Abbey: 2m homeowners set to take advantage of lower house prices
www.moneynews.co.uk > Housing market > Abbey: 2m homeowners set to take advantage of lower house prices
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Abbey: 2m homeowners set to take advantage of lower house prices
Tue 10th Jun 2008
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Although many people are staying put at the moment until the market stabilises - indeed, Abbey's research shows that 3.9 million people are taking this approach - others have decided that the risks may pay off.
Of the two million planning on moving, 1.2 million are intending to trade up to a bigger property in the hope of snapping-up a bargain.
A further 827,000 are selling up in order to rent, so they can wait for the market to reach a low before they buy again.
Phil Cliff, director of Abbey Mortgages, commented: "For some people a falling house price environment is not necessarily bad news. While the majority of homeowners are planning to stay put and wait for the current volatility to end, two million think that house price falls are a good reason to move."
Earlier today the Royal Institution of Chartered Surveyors reported that housing transactions are now at their lowest level since 1978.
Related News : Housing market |
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