FOUR MILLION HOME OWNERS PLAY THE WAITING GAME
More than four million home-owners are playing a waiting game, watching the fluctuating property market with an eagle eye so they can cash in on cheaper home-ownership before prices start to rise.
According to research from first direct, UK home-owners waiting for the right moment to ‘trade up’ their houses are now sitting on a savings pot of £20.2 billion* which is ready to be ploughed into the housing market when the time is right.
Findings suggest that with the property market already showing small signs of recovery, the average Brit expects house prices to start rising steadily as soon as October 2010.
One in six (15 per cent) think house prices will return to steady growth by the end of 2009, but the most pessimistic 16 per cent expect to wait until after the Olympic year 2012 to see steadily rising prices again.
Playing the waiting game