Jump to content
House Price Crash Forum
Sign in to follow this  
Ash4781

Profit 'not Most Housebuyers' Goal'

Recommended Posts

http://www.channel4.com/news/articles/busi...ers+goal/813152

Housebuyers are twice as likely to buy property so they have their own home than because they want to make money, according to a report.

Around 88% of people purchasing a property said their primary motivation was that they wanted to own their home, while 45% said they saw it as an investment, according to the Building Societies Association (BSA).

The majority of people also said they would continue to own property even if house prices fell.

Just 2% of those questioned said they would sell up immediately if house prices fell by 15%, while 63% said they would not put their home on the market and 11% said they would hold on to their property with a view to selling it once prices recovered.

Around 17% of people said they would look to buy more property if prices came down.

Two-thirds of people expect house prices to continue rising during the coming year, with most expecting gains of between 3% and 5%. Only 9% of people think house prices will fall and 20% think they will remain static.

Adrian Coles, director general of the BSA, said: "Growth in residential property prices has largely been due to a wide selection of factors including low interest rates, lack of suitable housing stock, a buoyant economy and the ingrained desire in the British psyche to own property.

"Some commentators have cautioned that the market may be over-reliant on consumers' expectations that prices will continue to rise. However, our report puts paid to these fears. Consumers have a realistic view of the property market and house price expectations have not fuelled a price boom.

"For most, the primary motivation for buying a property is derived from the satisfaction of owning a home, rather than the financial motivations of capital appreciation."

Ipsos MORI questioned 1,000 people during May.

Madness!

Share this post


Link to post
Share on other sites
Just 2% of those questioned said they would sell up immediately if house prices fell by 15%, while 63% said they would not put their home on the market and 11% said they would hold on to their property with a view to selling it once prices recovered.

What a completely meaningless statement. Now, had they asked "If a house price fall was accompanied by a general recession, and you or your partner found themselves out of work a year or so, would you remain in your current property?", we might get a meaningful answer. Why does this crap always amount to little more than "We asked 1,000 people what would change if everything stayed the same"? (yes, it is, so don't)

Consumers have a realistic view of the property market and house price expectations have not fuelled a price boom.

Quite sincerely, this has to be the most ridiculous statement I have read on the issue for quite some time. Did the interview any actual, you know, people?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 354 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.