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Fewer buyers are taking up property surveys

One of the UK’s largest surveyors has published its inaugural Home Survey Trends Index which shows that less than 10% of buyers in the first quarter of 2024 took out a survey that was more comprehensive than the basic level 1 survey. 


This is a drop of approximately 50%, with past statistics showing that around 20% of home buyers undertook a survey at level 2 (formerly the ‘home buyer’ survey) or above.

The new figures indicate that a huge number of unsuspecting buyers could be leaving themselves open to potential future risks and costs.

Recent research by HomeOwners Alliance shows that taking out a survey was beneficial in some way to 30% of those who did.  10% were able to negotiate a lower price and 9% got sellers to fix problems identified.  Of those who didn’t get a survey, 11% found issues that mean they regretted their decision not to have one.

Caroline Murray, partner and head of Grayson’s property team says:

It’s important to remember that surveys carried out by mortgage lenders are usually desktop-based and rarely involve inspecting the property so can’t really identify issues that might be present.  It is the buyer’s responsibility to have a survey carried out if they want one.   A property survey can be a worthwhile investment, but not all surveys are the same.  You should do your research to find the survey that is most appropriate for you.”

You can find out all about surveys and which might be the most appropriate for the property you are buying on our web page here.

Author: Caroline Murray, partner and head of Graysons’ property team.

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