Part exchange increasing in popularity
The number of part exchange sales has increased 11% year on year.
According to the latest data from Move with Us, a change in the types of property being built and schemes such as NewBuy are behind the increase.
Robin King, Director at Move with Us, said: “We’ve seen some encouraging signs for the property market recently and this is yet another win for the overall housing market.
“With house builders now responding to the current demand and opting to build more family orientated homes, it’s no surprise that we are seeing more and more homeowners turning to part exchange to get moving.
“Selling more properties to second steppers has the welcome side effect of freeing up smaller properties that are ideal for first time buyers.”
Move with Us explained that part exchange schemes allow homeowners hoping to move up the property ladder an opportunity to sell their current property quickly, without the hassle of property chains and the expense of paying estate agents’ fees.