What Puts Buyers Off From Making A Property Offer?

At Atkinsons Residential, we aim to provide you with the best standard of support in selling your home. We work hard to connect buyers and vendors, and we have a lot of information to share about the local market.

According to Rightmove, as of late September 2021, the Enfield housing market is as follows:

“Properties in Enfield had an overall average price of £528,364 over the last year.

The majority of sales in Enfield during the last year were terraced properties, selling for an average price of £489,399. Flats sold for an average of £328,272, with semi-detached properties fetching £664,724.

Overall, sold prices in Enfield over the last year were 8% up on the previous year and 14% up on the 2017 peak of £462,843.”

Why Prospective Buyers Don’t Make An Offer

The prices for property in Enfield are appealing to many buyers, so what makes a likely buyer decide against making an offer on a home. We are pleased to say we have worked closely with buyers and vendors, and we know the key issues in the marketplace.

There have also been recent studies into this, and one survey provides a lot to consider. A poll conducted by broker First Mortgage examines the key reasons prospective buyers walk away from a property deal, with 80 per cent of Brits saying they are picky.

There are times in life when being picky is not helpful, but when it comes to buying property, people should be as selective as possible. After all, homes sell for considerable sums of money, and you are going to spend an awful lot of time there.

What would put you off making an offer on a home?

Top 10 reasons for not making an offer on a home

1. Noisy neighbours – 47%

2. Loud area – 45%

3. By a main road – 44%

4. Thin internal walls – 43%

5. Near an airport – 41%

6. Hard to park nearby – 40%

7. Lack of storage options – 38%

8. Ceilings being too low – 35%

9. Steep stairs – 34%

10. Poor Wifi – 33%

David McGrail, compliance director of First Mortgage, said: “When looking for a home, it is important to envisage what it is like to live there 365 days a year, if a dog in the neighbourhood is barking every day nonstop, this could become an issue. A property is likely to be the most expensive single purchase you ever make, being picky is essential. When considering where to live it is important to be switched onto the various factors that could affect your finances as well as your happiness in the home. A few chips on the paintwork isn’t the be-all and end-all, however structural issues could even result in a mortgage being denied.”

If you are looking for guidance or assistance in the Enfield property market, we can help. At Atkinsons Residential, we are estate, land and letting agent specialists, and we look forward to assisting you as best we can. If you would like to arrange a property valuation, please call us on 020 8366 0261, while you can contact us on 020 8342 1234 for all letting enquiries.