HSBC PFS

April 30, 2012 10:56 ET

Quick Property Sale? HSBC Reveal the Home Improvements Which Count

LONDON, UNITED KINGDOM--(Marketwire - April 30, 2012) - Householders wanting a quick property sale should worry less about cleaning windows and buying fresh flowers, and spend more time repainting the front door and replacing old gates, according to new research.

The 2012 HSBC Home Improvement Survey revealed that many homeowners have misconceptions regarding factors which may help them to sell their property.

Half the UK (52%) will spend time over the Bank Holidays this Spring making home improvements. The research, which questioned householders and property valuation experts, also revealed the smaller jobs around the house which can help homeowners to sell their property.

More than half (60%) of property valuers said that the number one way to increase a property's chance of selling quickly, and for a healthy price, was to de-clutter. Cutting the grass and repairing paint chips will also improve house-selling prospects.

However, over two thirds (69%) of homeowners thought cleaning the windows would be worthwhile, compared to just 44% of the property experts. In addition, while 63% of the experts said that repainting or varnishing a front door would make a difference, only 23% of homeowners recognise this.

Householders should also worry less about putting rubbish bins out of sight or washing the car, and concentrate instead on repairing old fences and gates.

Peter Dockar, Head of Mortgages at HSBC, said: 'Many householders spend the Bank Holidays on DIY projects to help boost property value and saleability. However it is often the smaller jobs like painting the front door that can make all the difference when looking for a quick sale.'

Will they make a difference? Experts vs Homeowners:
Simple improvement Expert's number one choice (%) % of experts who think it would make a difference % of homeowners who think it would make a difference
De-clutter home 60 93 71
Repair paint chips or wall paper 15 75 56
Cut grass and trim flower beds 7 71 66
Repair fences and gates 5 64 44
Replace old fashioned switches and electrical sockets 4 29 15
Repaint/varnish the front door 3 63 23
Clean windows in and out 2 44 69
Place rubbish bins out of sight 2 30 41
Wash the car if it's in driveway 1 4 17
New plants for garden or terrace 1 20 20
Buy fresh flowers for indoors 0 7 38

Notes to Editors:

Consumer sample:

- 1369 British homeowners (aged 18+).

- Nationally representative sample.

- Carried out online 15-16th Feb 2012.

Business sample

- 112 interviews with estate agents who value properties as part of their job.

- Spread across 11 regions (10 in each).

- Carried out by phone during February 2012.

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http://www.hsbc.co.uk/newsroom

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HSBC Bank plc: HSBC serves 16.1 million customers in the UK and employs approximately 52,000 people. In the UK, HSBC offers a complete range of personal, premier and private banking services including bank accounts and mortgages. It also provides commercial banking for small to medium businesses and corporate and institutional banking services. HSBC Bank plc is a wholly owned subsidiary of HSBC Holdings plc.

HSBC Holdings plc

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,200 offices in over 80 countries and territories in Europe, the Asia-Pacific region, North and Latin America, the Middle East and Africa. With assets of US$2,556bn at 31 December 2011, HSBC is one of the world's largest banking and financial services organisations.

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