There’s been a surge in the number of sellers who resort to using quick buy firms, according to the sector’s trade body.
The National Association of Property Buyers says more than two thirds of its members saw business increase last year - about a fifth saw business stagnate and 10 per cent saw a reduction.
The NAPB says its members bought an average 59 properties in 2021 compared to 51 in 2021; some 80 per cent of those questioned said they anticipated business rising further in 2022.
Around 40 per cent of sellers apparently chose a quick buy firm because they didn’t want viewings, while 20 per cent opted for this method because they owned a property in disrepair. Other reasons stated by sellers included that they had a short lease, structural problems or a cladding issue.
Jonathan Rolande of the NAPB says: “After one of the busiest years on record members are already reporting increased levels of enquiries so far this year. This rise comes despite the apparent ease with which people can sell a property using ‘traditional methods’ like auctions or estate agents.
“The increase is likely linked to the fact that the cost of owning an unwanted property these days is higher than ever. Council tax, insurance, maintenance and utilities have all shot up and many more people are looking for a quick, easy and, above all, a certain way of selling to eliminate these costs as quickly as they can.
“Cash buying services are becoming an established and very important part of the housing market. While that’s good for our members of course it’s even better news for the selling public. It shows that house owners have an easy way to sell their house quickly for cash, particularly if they decide that the conventional agency route isn’t for them.
“There’s every reason to be optimistic about the property market in 2022 and we look forward to our members being able to help many more house sellers sell their property quickly for cash throughout the coming year.”