More urgency in house market

Posted 2008-01-6

One in ten people who are planning on buying a house are bringing forward their plans according to a survey by fool.co.uk. According to the survey 38% of potential house buyers want to buy this year and 34% in 2009.

David Kuo, head of personal finance at fool.co.uk said:

“The long overdue correction in the property market will allow many people who have been waiting to move house to finally realise their dream.  Quite often people will ask how much they can borrow when they want to buy a property. But that is altogether the wrong question. Instead, they should ask themselves how much they can afford to repay.”

Fool.co.uk found that in the next five years there will be more sellers than buyers; for every four people looking to buy there will be five sellers.

Leave a Reply