Research by park home selling specialists Quickmove Properties, has shown that while the bricks and mortar market may be cooling, with sales on the open market enduring lengthy delays, those opting to downsize to a park home can cut the average time of their transaction by 122 days, when part-exchanging their existing home.
The research from Quickmove Properties shows that, currently, the average bricks and mortar home is taking 136 days to sell, due to increasingly difficult market conditions. The data from Quickmove Properties also shows that it takes an average of 13 property viewings until a buyer is secured on the open market.
However, one method that many silver downsizers are utilising in order to bypass this market uncertainty and the current lengthy transaction times is by part-exchanging their property.
In doing so, they are able to reduce the time it takes to sell their home to as little as two to four weeks, that’s a potential reduction of 122 days.
When it comes to the most common property type to have been part-exchanged via Quickmove, terraced homes top the table, accounting for 26% of all properties.
Semi-detached homeowners are also utilising the part-exchange path to selling, accounting for 25% of all market activity, followed by those who own bungalows (23%) and detached homes (17%).
Sales Director at Quickmove Properties, Mark O’Dwyer said, “Property Part-Exchange is becoming an increasingly popular path for many sellers who are looking to downsize to a park home and, in doing so, they are reaping the benefits. The primary draw is the speed and security it provides, as well as the convenient, hassle-free process.
As the bricks and mortar market has started to slow and the landscape has become increasingly uncertain, the risk of delays and transaction fall-throughs has increased.
Part-exchange helps to negate these issues, reducing transaction times and avoiding the endless viewings until a proceedable buyer is found. It provides a certain sale and the peace of mind for those moving to their dream park home.”