In our previous blog post, we detailed how the recent boom of homemovers can be utilised by retailers wishing to contact a high-value and high propensity to order audience.
In this edition, we will be looking in detail at what exactly these homemover audiences consist of, and to illustrate this fact that there are more consumers for retailers to target than ever before, we have derived the following comparison:
In the UK traditionally we have seen about 1 million homemover properties per annum prior to 2020, and based on stats from UK HPI, on average an owner occupier moves every 19 years.
Right now, however, there are 2.2 million properties across 4 different audiences that we think you should be communicating with. This is a 220% increase above the norm.
For properties involved in a current home moving journey, these split into the following segments:
In addition to the above, there are also 448,000 properties that have been withdrawn from sale in the last 12 months. These frustrated non movers can be targeted, as very often these are people who decide to “stay and improve” their existing property or pamper themselves with a new car or holiday.
Important Definitions:
- Property currently for sale means that a person has their house on the market and wants to move. At present, 30% of properties are selling inside a 2-week period
- Sale agreed and progressing means that the seller has agreed a price with a buyer and is working towards selling their home. The vast majority of these will be moving soon
- Moved in the last 12 months speaks for itself, but we felt that this group is also vital. People tend to buy cars within 3 months or kitchens within 4-5 months of moving, but purchase times with the pandemic are getting longer
Keep an eye out for our next edition, where we'll be looking at where in the UK these homemovers are situated. In the meantime, to find out more about how TwentyCi can help you harness these opportunities, contact us today.