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How much do you know about the property market?

New research has emerged that suggests that Londoners are less than savvy when it comes to the property market.

In a quiz commissioned by Portico, designed to test how much Londoners really know when it comes to property, it was found that only 27% guessed the correct amount of time it takes to sell a property in the capital.London Property Quiz Portico We Buy Any Home

67% believed that the average time for a property to go under offer was 32 days or less. The correct answer is just under double this figure: 60 days.

The quiz also revealed that one in four Londoners doesn’t know the current Bank of England base rate and only half knew how much Stamp Duty would be payable on the purchase of a £500,000 property.London Aerial View Property Prices We Buy Any Home

It seems where Londoners are most clued up is property prices, which seems hardly surprising given that owning a property in the capital is often a high yet unobtainable priority. 80% were able to identify which property out of four options was worth £300,000 or less – perhaps a result of time invested searching for properties within such a price range.

77% were also aware of the minimum deposit needed for a London Help to Buy equity loan, another indicator of the growing desire of first-time buyers to make their mark on such a competitive market.

inherited property we buy any home

If you fancy putting your knowledge to the test, you can play Portico’s quiz. With a John Lewis voucher and the chance to sell your house for free, it’s worth a shot.

To remove the guesswork and discover the true value of your property simply get in touch with our team. They are on hand to answer any of your questions, day and night. Simply fill out our enquiry form below.

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