There are many reasons why people decide to sell their property, from life events such as having a baby or retiring to more emotional factors such as the desire to live in a village. There are also many reasons as to why people withdraw their property from the market prior to it being sold.
But how strong is the initial desire or need to move? TwentyCi have measured this using their property and demographic data sets by analysing how many people who withdraw their property from the market placed it back on the market within a year. We concluded that this happens in 31% of cases – so the need or desire to move is strong.
Furthermore, we also looked at the gap between the initial withdrawal of their property from the market and the homeowner placing the property back on the market, and it is spread evenly over the year. In other words, people are no more likely to re-list their property after taking a break from marketing in one week as they are in 25 or 52.
Whatever the reason for moving, whether based on need or desire, the imperative to sell once you have decided to move remains strong even if you don’t sell your property the first time it is advertised.