Research reveals how poor property maintenance can impact buyer offers

Four out of five homebuyers would consider reducing an offer if they found maintenance issues when viewing a property. 

The insurer’s poll found that poor maintenance could knock 14% off a house price, the equivalent of more than £40,000, based on current UK house prices.

Loose roof tiles, blocked drains, cracks in walls and unserviced boilers were among common concerns from would-be buyers.

However, three in five residents admitted delay dealing with minor maintenance issues in their own homes.

m a survey of 2,000 UK adults conducted by insurer Aviva. 

It reveals more than half of viewers (54%) would “definitely” reduce an offer, while a third (32%) would possibly do the same. 

A further 7% simply wouldn’t make an offer at all, if they discovered problems while viewing.

The insurer’s poll found that poor maintenance could knock 14% off a house price, the equivalent of more than £40,000, based on current UK house prices.

Loose roof tiles, blocked drains, cracks in walls and unserviced boilers were among common concerns from would-be buyers.

However, three in five residents admitted delay dealing with minor maintenance issues in their own homes.

Commenting on the research, Joanne Richards, senior area director for Connells, said: “During 2022 across the Midlands, demand and house prices have remained high, with properties so far this year achieving 101% of the asking price. 

“However, breaking that down we do see that properties that have been maintained to a high standard, both internally and externally, genuinely tend to achieve the best results with offers being generated at asking price or higher.

“Those that have not been maintained to a high standard are the ones that potential purchasers will try to negotiate on price, either at the point of offer or during the transaction, particularly after a survey. Offers will and can be reduced to reflect works required.”