Home purchases down as rental demand remains strong |
28 2008 |
| New figures show that the number of potential buyers staying away from the property market has continued to increase amidst enduring uncertainty. According to the property website Hometrack, the number of new buyers signing up with estate agents dropped by 11.5 per cent in January, following declines of 7.9 per cent in December and 9.1 per cent in November. Furthermore, there was also an increased shortage of homes coming onto the market over the month, a factor which has also contributed to the soaring demand for rental accommodation across the UK. These latest statistics come soon after the publication of the annual UK housing review by the Chartered Institute of Housing (CIH) and the Building Societies Association (BSA) which revealed that, as affordability issues continue, a growing number of people are turning to the rental market. Renters currently pay around a third less than the mortgage repayments on a similar property, the report stated.  |
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