As part of its Home Survey Trends Index for Q3 2024, Countrywide Surveying Services (CSS) noted a significant 5.4% uplift in the number of homebuyers instructing a home condition survey with their recent property purchase.
The index showed that 16% of homebuyers had instructed a home condition survey with their property purchase in Q3 2024, compared with 10.6% in Q2 2024.
This 16% figure signified a doubling of Q4 2023 findings, which found that only 8% of homebuyers instructed a home condition survey over the course of that particular quarter.
This figure is inclusive of those who took out a RICS Home Survey Level 2 and RICS Home Survey Level 3 and is applicable for property transactions in England, Wales, and Northern Ireland.
For those homebuyers electing for a RICS Home Survey Level 2, the average value of a property in Q3 was £295,000, with an average fee of £468.
For those homebuyers selecting a RICS Home Survey Level 3, the average property price was £426,000, with an average fee of £890.
The largest uptake in a RICS Home Survey Level 2 and a RICS Home Survey Level 3 was evident in the North West at 18% and 16%, respectively.
In contrast, the lowest uptake for a RICS Home Survey Level 2 was in the North and Greater London, with both registering 6%.
The lowest uptake for a RICS Home Survey Level 3 was in the North and Wales, coming in at 5%.
Matthew Cumber, managing director at Countrywide Surveying Services, said: “The notable rise in homebuyers opting for a home condition survey highlights a growing awareness around the need to fully understand a property’s condition before purchase.
“With the figures doubling compared to Q4 last year, it’s evident that consumers are gradually but decisively placing greater emphasis on informed decision-making and expert advice to safeguard their investments.
“Especially in regions like the North West, which shows the highest levels of engagement.”
He added: “This trend toward greater diligence signals a positive step toward a more transparent and robust property market.
“However, there remains plenty of room for improvement and we, as a business, will continue to champion the merits of this vital component within the homebuying journey.”
