News

A new report exploring the state of the region’s residential property market has revealed that women wear the trousers when it comes to house buying, with 85 per cent of estate agents saying women have the most influence in the final decision on whether or not to buy.

14 per cent reckoned it tended to be a joint decision…and just one per cent said men had the final say!

The finding is part of a report by Geodesys – part of Anglian Water that has just launched its own Home Information Pack (HIP) – that gleaned opinion from 103 regional agents and 100 solicitors.

Geodesys’ Head of Sales & Marketing Patsy Day, said: “As a house is a joint purchase for couples, you’d expect it would be a joint decision. And given that men are likely to take on a fair share of the DIY and home improvement, it’s surprising that they aren’t playing a greater part in the final say. Clearly the region’s women are very passionate about their homes.”

The report also found that last summer’s floods, which caused millions of pounds worth of damage across the county, are impacting on the house buying decision process with a property’s flood history and drainage reports featuring in the Top 10 considerations.

They still ranked behind aesthetic considerations, however, like a shiny new kitchen (1st) or a large garden (4th), the area’s reputation (2nd), and public transport links (5th) in the list of most influential factors.

A third of the agents interviewed reported that buy-to-let investors are still a common buyer type – although they generally predict this client group will diminish over the next 12 months due to the squeeze on mortgage lending.

But there is also some concern that too many people feel they can ‘play’ the property market, with 86% of estate agents sharing this view.

A major driver of this has been TV property shows. These have led to a culture in which people are more likely to see their houses as investments. For instance, 86% of the agents and 66% of the solicitors Geodesys interviewed feel that, irrespective of the buyer-type they are dealing with, people are far more likely today than 20 years ago to think of their property as an investment rather than a home.

HIP ignorance

The study also examines the impact of and attitude to HIPs amongst the region’s estate agents.

85% of agents said their ‘average’ customer was aware of HIPs but needed more information, whilst 14% were still oblivious to the packs. Only one per cent believed customers generally were well informed when it comes to HIPs.

Patsy Day, added: “Clearly, estate agents still need to educate customers on the need and value of HIPs. It’s also important that customers are made aware not to buy on price alone, as some HIP providers are cutting costs, and corners, to grab a bigger slice of the HIPs pie. However, these poor quality packs are often non-compliant, resulting in delays in the conveyancing process and additional costs.

“That’s why we’ve created a Geodesys HIP product. We have a proven track record at providing accurate search information, quickly. We also have a respected brand behind us, and a real understanding of the region’s property market. “

For further information on the Anglian Property Report, the Geodesys Home Information Pack or any other of its services, please contact Geodesys on 01480 323889, or visit www.geodesys.com

For further press information, please contact Brigg Ford at Energy PR on 01993 823011 or by email at brigg@energypr.co.uk

Notes for Editors:
Offering property professionals a fast, accurate and flexible service, Geodesys’ Home Information Pack also provides the added reassurance for homeowners that being a commercial business unit of Anglian Water entails. Priced at £335 + VAT, the Geodesys HIP can be further supplemented by additional, authorised searches, including environmental, planning and flooding reports if required.

Geodesys was established in 1997 by Anglian Water to manage its asset information and to provide water and drainage search services to selected third parties.

The Anglian Water Group (AWG) is the parent company of Anglian Water and specialist commercial and residential property development business, AWG Property.  AWG is owned by private consortium, Osprey, comprising of Canada Pension Plan Investment Board, Colonial First State Global Asset Management, Industry Funds Management and 3i Group plc.

AWG has around 3,700 staff based in offices across the UK.  Anglian Water is one of the industry’s leading companies, serving around six million customers in the east of England and Hartlepool.