Consumers 'do not expect' housing price fall

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Consumers 'do not expect' housing price fall

Mon 1st Feb 2010

Prospective property buyers believe that house prices have reached their lowest levels and are thinking of buying this year, according to Unbiased.co.uk.

Only three per cent of consumers are holding off buying a new home as they think that prices are yet to fall further.

In addition, 29 per cent think that prices are beginning to rise again, which may indicate that many people are looking to get a new house before they are priced out of the market.

Compared to this time last year, respondents also think there is less leeway for negotiation on price, with consumers thinking on average that the price can be brought down by 11 per cent, which is down from 15 per cent in 2009.


Karen Barrett, chief executive of Unbiased.co.uk, said: "With interest rates holding at an all-time low consumers are seeing the importance of getting the right mortgage now more than ever."

For those consumers thinking of changing their address this year, Unbiased.co.uk urged them earlier this year to plan their finances and keep track of important dates.

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