6
Jun
Poll predicts fewer moves
Britons are hesitating before buying property in 2008, according to
a new survey.
The study by myfinances.co.uk reveals two-thirds of people have
opted out of buying a house in the next 12 months as property
prices tumble and the mortgage market continues to shrink.
Of prospective first-time buyers, less than six per cent said they
would buy before summer 2009, while just over one in ten said they
were still undecided.
Confidence was slightly higher among current homeowners with only
42 per cent categorically ruling out a move this year.
However, the vast majority agreed their houses were rapidly
devaluing, with only six per cent believing prices could hold
steady. Of the less optimistic majority, 24 per cent expected
property values to fall between ten and 15 per cent in the next 12
months.
May's Halifax house price index showed property prices had fallen
2.4 per cent since April and 3.8 per cent on an annual basis.
