"Just one in ten expect prices to fall"

HAMISH_MCTAVISH

Optimism continues to return to the property market after research revealed two thirds of first time buyers believed now is a good time to buy.

The latest Consumer Confidence Survey from Rightmove also found that 80% of buyers looking to take their first step onto the property ladder were of the opinion that prices will not fall any further in the next 12 months.

With the Royal Institution of Chartered Surveyors recently revealing the balance of surveyors reporting increased first time buyer enquiries had risen 28% in the last three months, it seems the property market might be finding its feet.

“Now could be a good window of opportunity for first time buyers if they can get a decent deposit together,” said Miles Shipside, commercial director of the property website. “The market appears to have bottomed out and there are still bargains out there.”

He also noted, however, that the increased number of new entrants to the market comes at a time when property choice is limited, with new stock coming onto the market in the ten months of 2009 down by a third on the same period last year.

The research also revealed positive signs throughout the market as a whole. The majority of respondents said they expected house prices to increase over the next 12 months, while just one in ten were expecting prices to fall.

http://www.moneyfacts.co.uk/Article/92718/ftbs-look-to-buy-now.aspx
:beer:

Mmmmm, tasty bull food....;)

Buyer sentiment is critical to the market and it doesn't get much more positive than that.

ruggedtoast

/tumbleweed

the_ash_and_the_oak

I don't think buyer sentiment really ever took a hit in the first place!

chucky

the_ash_and_the_oak wrote: »

I don't think buyer sentiment really ever took a hit in the first place!

i agree - in the real world (not this forum) i don't think that sentiment has ever been an issue except for a few months last year.

lostinrates

the obvious joke is whether the One in Ten is Mr Brown or his wife.

nollag2006

Great news Hamish !!

Thanks for this

overlander

the_ash_and_the_oak wrote: »

I don't think buyer sentiment really ever took a hit in the first place!

Thats because your average punter is as thick as mince.

ruggedtoast

Great news Hamish - from Hamish.

Thanked by Hamish, Hamish, and Hamish.

:-D

Graham_Devon

Let me get this straight. They ask people who are looking to buy, whether they think prices will fall?

Well, I doubt they would be looking to enter the market if they DID think prices were going to fall.

Genius survey.

ruggedtoast

Graham_Devon wrote: »

Let me get this straight. They ask people who are looking to buy, whether they think prices will fall?

Well, I doubt they would be looking to enter the market if they DID think prices were going to fall.

Genius survey.

I want to enter the market and I think prices will fall in the medium term. But I'm looking for a home not an investment so it should even out.

People expecting 2007 type hpi are going to be rather disappointed I expect.

the_ash_and_the_oak

Think a necessary component of wider negative sentiment for houses is repossession or a direct personal hit to people close and low transaction levels mean this hasn't happened on any scale. Any negative sentiment re:housing is more likely to be among those who would like to sell but can''t, and this kind of negative sentiment isn't something that translates in the same way