Two thirds of homebuyers in Wales say experience has put them off moving again, research finds

Daniel Bevan - Editor

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Two thirds of homebuyers in Wales have been put off moving house again due to the stress and inefficiencies of the process, according to new research from the Open Property Data Association (OPDA).

The study found that 64% of recent home movers in Wales are reluctant to go through the experience again, with nearly one in five (19%) saying they have been significantly deterred after navigating what many describe as a slow and frustrating system.

Around a third of respondents said difficulties in buying or selling had affected family plans (32%), while 29% said it had influenced career decisions and 30% reported an impact on downsizing later in life.

Based on a survey of 5,000 home movers, the findings highlight persistent issues in the UK housing market, including delays in exchanging contracts, repeated requests for information and a lack of timely updates.

On average, a property transaction now takes 135 days to complete after an offer is accepted, up from 93 days in 2019.

Maria Harris, Chair of the OPDA, said: “These findings are a major alarm bell for the housing sector.

“If so many people are reluctant to move again, it’s going to have a significant impact on housing supply, worsening mobility, particularly for those already struggling at the bottom of the housing ladder.

“The current system in the UK is broken and needs deep structural reform.

“Embracing smart data will transform how we buy and sell property.

“With more upfront information and industry wide standards, we can deliver faster transactions, fewer fall throughs, and greater transparency.”

The OPDA is leading efforts to modernise the home buying and selling process through the use of so-called “smart data”, working with lenders, brokers, conveyancers, estate agents and government bodies to develop common standards.

Phil Spencer, founder of property advice website Move iQ, said: “We all know moving home is a stressful experience.

“But these findings suggest the process is so bad in Wales that most people would rather stay put than contemplate moving again.

“Buying a new house should be exciting, not stressful.

“Digitalisation has transformed so many elements of our lives for the better, and the housing market needs to move out of the dark ages.

“A system built on smart data would make life better and happier for buyers, sellers and property professionals.”