The Home Staging Report 2020 is Coming
The Home Staging Association UK & Ireland is pleased to announce that the Home Staging Report 2020 will be released in October.
This year has been tumultuous (to say the least!) for the Home Staging industry, the housing market, and buyers. As such, the HSA is taking a different approach to the 2020 report.
In 2019, the HSA UK & Ireland sent out an online survey to 330 property professionals working in the UK. We took a total of 106 usable responses from the group - a combination of property developers, real estate agents, and property managers - and put together a stunning spread of utilisable data.
Why We’re Changing Our Report For 2020
Obviously, 2019 was a ‘normal’ year for Home Staging. When we asked: “Does home staging increase the number of viewings on properties?”, and our responses came back at a whopping 94 per cent - well, that was that.
In 2020, however, there’s a tremendous amount of new factors to consider.
In asking the same question, one could suggest that viewings went up for estate agents due to pent up demand for viewings after the market safely reopened. One might propose that virtual viewings - thanks to their ease of use - might have artificially inflated figures.
Consider another statistic from 2019. The HSA asked a pertinent question of its melange of property professionals: “Comparing other similar properties, did staging increase the offer value?”
83 per cent of property developers saw an increase in offer value on professionally staged homes.
While this question still works amidst COVID chaos, it’s no less important to compare those increased offers to standard property values in 2019.
In all likelihood, Home Staging is helping raise offers to that of pre-COVID averages, rather than improving upon values we’ve grown to expect in 2019. That sounds bleak, sure - but it’ll position Home Staging professionals very handily.
Staging your home will no longer be a method for increasing offer value - in many cases - but a necessity for maintaining pre-COVID pricing expectations. Sellers will seek out ways to boost revenue from their investments to sustain anything more than a net loss.
Why would they spend the extra on a staging professional? In 2019, 77 per cent of developers agreed that the sale of the property paid the cost of Home Staging.
The risk on investment is significantly lower with a staging professional than, say, throwing cash towards an extension, a total refurb, or a rejuvenating redecoration.
It’s a no-brainer.
How We’re Formatting The 2020 Report
The HSA UK & Ireland’s Home Staging Report is a tool property professionals use to secure higher, quicker sales.
To ensure that, the 2020 report will take two unique focuses. Firstly, a statistical comparison between 2019 and 2020. Secondly, critically, our surveys will be tailored to reflect current events.
We’re dedicated to examining how Home Staging has affected the post-COVID property market - for our readers’ benefit.
What’s the point in a report which isn’t indicative of contemporary happenings? One which wouldn’t secure your more and better sales.
That’s why the HSA UK & Ireland have chosen to change tactics for 2020. Ultimately, it’s so that Home Staging professionals will be as informed as possible - because an informed industry is a lucrative industry.
Download the 2019 Report here.
Photo: Kin Design