The cost-of-living crisis is having an impact on the property market, with the majority of homeowners (79%) saying that their priorities have changed when it comes to selling their home and buying another.
But with just under a quarter (24%) more likely to list their home and buy another in 2023 as a result - and, with over half (55%) preferring to list their home for sale in the Spring, there are definitely reasons for sellers and buyers to be cheerful according to Purplebricks.
Changing priorities for homeowners included spending less on a new property than planned (18%) and selecting a new property which is more of a project than they’d normally choose (6%).
Just under half of homeowners (49%) said that they were planning to stay put because of the cost of moving.
Tom Greenacre, Managing Director of Purplebricks, said: “It’s understandable that people are nervous about the cost of selling their home and moving house given the cost-of-living crisis – but they don’t have to be. Buying a new home in a cheaper area or downsizing where children may have left home, for example, might leave you better off. And listing now, or very early in the New Year, could mean that you beat the crowd.
