Thursday, Aug 14, 2008
Buyers are taking a wait and see attitude,uncomfortable with buying a home which may be worth less in six month's time
FT: Third of homebuyers waiting for prices and rates to fall
More than a third of homebuyers are putting off purchasing because they believe rates will be cheaper in six months time, according to HSBC.Research from the lender found that despite 98 per cent of people being able to secure mortgage finance, people are not confident to fund a new property due to further rises expected in the cost of living.
The study found that while one in 10 people were keen to get on the housing ladder, 37 per cent said they were waiting for prices to fall further while 36 per cent said they were concerned over the rising cost of living.
Posted by jack c @ 09:54 AM (551 views) Add Comment
5 Comments
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1. p. doff said...
Does this mean 2/3 of potential buyers aren't bothered about falling prices?
2. mark wadsworth said...
What P.Doff says.
Honestly, are there really 2/3 x 1/10 x 25 million households = 2 million households clamouring to buy in a falling market? Sheesh.
3. jonb said...
Remember that the majority of buyers are also sellers, and for them, what matters is the difference in price between the place they are selling and the place they are buying. Both are obviously going to fall in the future, but one might fall by more than the other.
4. angonamo said...
'Research from the lender found that despite 98 per cent of people being able to secure mortgage finance, people are not confident to fund a new property due to further rises expected in the cost of living.'
Are they saying that 98% of all people in the UK can secure a mortgage ? I don't belive that. If that was the case, there would be no credit crunch and everything would be ticketyboo.
5. crash bandicoot said...
I think it means that 98% of people can secure a mortgage - just not one big enough to buy a house at current prices!