Online agency’s reason for low volumes (it’s not Brexit or stamp duty)

An online agent claims to have the answer to why fewer people are buying and selling these days.

It’s not Brexit, stamp duty or even the cost of moving - apparently they’re too stressed.

Yopa says its “shocking” findings show that 60 per cent of people questioned in a survey it commissioned have been put off even looking for a new home because of the stress involved in the housing buying process.

And 40 per cent were left feeling depressed and the same percentage said they became physically ill by the process. 

No fewer than 65 per cent apparently suffered sleep deprivation.

On top of that 40 per cent of respondents say moving house is more stressful than getting divorced (34 per cent), having a baby (31 per cent), starting a new job (27 per cent) and organising a wedding (25 per cent).

Perhaps not surprisingly for a survey commissioned by an online company, the findings apparently show that 62 per cent of people think that moving home can theoretically make them happier and felt it would be a less stressful process if estate agents fees were lower (42 per cent) and if there was more transparency throughout (37 per cent).

Estate Agent Today checked with Yopa whether “more transparency” included online agents revealing upfront their conversion rate of listings to completed sales. A spokeswoman for the agency said that specific point was not mentioned in the survey.

However Chris Rosindale, operations director at Yopa, says: “The study has uncovered some pretty shocking stats about how many people consider moving home with one of the most stressful life events. It is problematic that people feel unable or unwilling to move because of the stresses and strains of actually moving house.”

Yopa describes itself as “a top 10 UK estate agency brand with more than 170 members of staff and 125 local estate agents.”