Friday, Oct 02, 2009

A huge cry for help in a market that is reported as on the up

Moneyfacts: NAEA: Government must encourage home ownership

The Government has been accused of not doing enough to encourage potential homeowners to own a property. The National Association of Estate Agents (NAEA) has reported that more than one in four adults no longer have any desire to own their own home in some cities in the UK. Thirty per cent and 27.7 per cent of residents in Cardiff and Manchester respectively said they had no designs on owning a home, while a quarter of respondents in Belfast and Brighton gave the same response. It was a similar case in Leeds and Norwich, where 24 per cent of those questioned said they had no plans to buy.

Posted by jack c @ 02:46 PM (1280 views)
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1. James In London said...

I find it encouraging: sounds like 1 in 4 people have more sense than to chew on the VI tripe that 'home ownership' and 'crippling debt' are worthwhile bedfellows.

The proportion of folk who think this way will continue to increase until sensible prices return (and yes, they *will* return - it's a cyclical market).

In other news, I heard that the National Association of Cigarette Manufacturers were criticising the government for not encouraging people to start smoking.

Friday, October 2, 2009 03:02PM Report Comment

2. inbreda said...


What a pointless bunch of desperate individuals.

Can't understand how anyone can have a job writing this tripe without being seriously embarressed

Friday, October 2, 2009 03:06PM Report Comment

3. mark wadsworth said...

If the government of whichever colour really wanted more people to own homes, then all they have to do is allow more homes to be built.

Or have I missed something?

Even if the government were building more social housing for lower income people (without trying to get planning laws relaxed so that more privately owned housing can be built), that would take the pressure off those a bit further up the income scale (because without Housing Benefit, there's be more landlords willing to let out or sell their properties for less money, for example).

Friday, October 2, 2009 03:14PM Report Comment

4. jack c said...

Much has been made of the "recovery" in the housing market with prices up again for the 5th month in a row according to Nationwide - however the volumes at the moment are approximately 50% of what they were roughly 1 year ago. So with volume down EA turnover and profitability must also be down (unless they have a well diversified business offering lettings etc..) They can therefore trumpet the 0.9% monthly rise as much as they like however unless the volume increases to more sustainable levels more EA's will be joining the rising unemployment list.

Friday, October 2, 2009 03:27PM Report Comment

5. rumble said...

They don't suggest one reason why people should own a property.

Should stick to my rule of not reading anything by estate agents.

Friday, October 2, 2009 03:32PM Report Comment

6. Teeth said...

I read this and vomited.

Friday, October 2, 2009 03:42PM Report Comment

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9. mander said...

More proof that people are no longer buying into the "property ladder" manipulation and start to understand that taking on big debts will make their life dificult. Property must offer more value for the money people will have to pay plus few genereations live in a house and so the house is being paid few times which means that price should always go down not up.

Friday, October 2, 2009 04:16PM Report Comment

10. drewster said...

People will only buy a house....:
1) If they can afford it (mortgage approved + deposit)
2) If they expect the future to be better or the same as the present.

I think people are gradually realising that tomorrow will be worse than today.

Friday, October 2, 2009 04:51PM Report Comment

11. denzil said...

“The recession has left many people feeling they cannot get on the property ladder,” said Peter Bolton King, chief executive of the NAEA.

Many people feel "left out" because of the rampant House Price Inflation (HPI) of recent years. The very same HPI the Bolton King lauded at every opportunity.

Friday, October 2, 2009 05:39PM Report Comment

12. it_is_going_with_a_bang said...

“It will be a sad day if any British man or woman gives up on acquiring their castle.”

.... for an estate agent.

Friday, October 2, 2009 10:33PM Report Comment

13. clockslinger said...

It will be a sad day if any British man or woman decides, at twenty five or thirty, that there may be more to their time on planet earth than their level of material consumption...won't it?

Saturday, October 3, 2009 09:40AM Report Comment

14. Gazzaevo7i said...

Yeah everybody go out and buy an overpriced house, yeah you will have a huge crippling debt over your head for the next 25 years but look at the flip side at least you will be keeping all those lovely honest estate agents in a job!

Saturday, October 3, 2009 10:47AM Report Comment

15. Another_pleb said...

If the government were serious about increasing the level of home ownership then they might think about placing curbs on people who own more than one property.

In rural areas especially, there are well documented problems of young people not able to buy a reasonably priced place to live because they are priced out by people who mightn't even visit their pied-å-terre except for the odd weekend.

In urban areas we also see a huge number of buy-to-let owners who are also largely responsible for strangling the market especially at the bottom of the "ladder".

Perhaps the government could think about these two not mutually exclusive classes of people.

Saturday, October 3, 2009 10:56AM Report Comment

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