How long does it take to buy a house? New data reveals it’s quicker than a new car or a sofa…
The average house hunter makes up their mind on buying a new home in roughly the same length of time as a Coronation Street episode
IT takes just 27 minutes for a buyer to make the decision to buy a property after viewing it, quicker than it takes a person to buy a new car or sofa.
While the average house hunter makes up their mind in roughly the same length of time as a Coronation Street episode, for almost a quarter of buyers it takes just 10 minutes to make an offer.
Buyers in the East of England take the longest time to make their property purchase decision (32 minutes), while house hunters in the East Midlands are the speediest, taking just 26 minutes to decide.
Buyers in London take 27 minutes to make an offer after viewing a new property.
The research from Zoopla shows that buyers take three times longer selecting their sofa (88 minutes), and twice as long deliberating over a home appliance (59 minutes), as they do choosing a new home.
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It even takes Brits longer to decide on buying a new watch (33.9 minutes) than buying a new property.
The survey of more than 2,000 buyers found that more than half put in an offer on the same day they viewed the property.
Around 45 per cent admitted that they knew they wanted to make an offer the minute they walked through the door.
The average house hunter spends a total of 75 hours over the course of 15 weeks to find a property, and attend an average of eight viewings before they find "the one".
Lawrence Hall, spokesperson for Zoopla said: “The process of buying a home is a hugely emotive one, and whilst a quick decision can help secure a property in a fast-moving market, it's essential to keep a strong head and do as much research online and with your local agent to help build knowledge prior to viewings and making an offer."
Last month, Zoopla revealed the UK towns where homes sell the quickest.
According to its research, homes in Northampton get snapped up quicker than properties in other UK towns, with the time between a home in the area going on the market to being “under offer” just 27 days on average.
Edinburgh, Milton Keynes and Croydon are also among Britain’s biggest property hotspots, as homes in all three towns secure offers in under five weeks.
On the other end of the scale, Bradford was revealed to be the town where properties take the longest time to get snapped up, with homes taking a whopping 69 days to go under offer – 22 days longer than the UK average.
If you're looking to buy a new home, Yorkshire Building Society has just launched the lowest ever mortgage rate on the market, at just 0.89 per cent. But be warned - you'll need a hefty deposit.
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