Almost a third of individuals contemplating a home move have not yet engaged with an estate agent, according to research by LRG. This suggests a substantial number of potential sellers remain unrecorded in the current market.
The decision-making process for moving often begins well before a valuation. Some 40% of respondents reported considering a move for at least a year before contacting an agent, with 22% waiting over two years.
Personal circumstances are a stronger motivator for moving than financial factors, with 73% citing a personal reason. Finding the right property was the most common individual trigger at 34%, followed by changes in family or personal circumstances at 31%.
The overall cost of moving is the most frequently cited barrier, identified by 54% of respondents. Difficulty in finding the right property was the second most common barrier at 37%.