Young Brits keep focus on home ownership

IveSeenTheLight

some very interesting points
http://www.homemove.co.uk/news/2011/09/24/young-brits-keep-focus-on-home-ownership/

Younger Britons are as enthusiastic as ever about home ownership, with more than eight out of ten 18 to 24-year-olds wanting to get a foot on the property ladder by the time they are 30.
According to the Building Societies’ Association (BSA) quarterly consumer survey, 75% of young respondents are highly aspirational, seeing home ownership as a goal for their twenties.

However, the “Property Tracker” report also shows a jump in the number of respondents who believe raising a deposit is a barrier to home ownership, up from 62% in June to 69% in September.

More positively, only 16% of respondents said they were concerned about future falls in house prices, down from 27% this time last year, and

almost one-quarter of those questioned thought house prices would rise over the coming 12 months.

Overall, consumer confidence in property purchase has improved marginally in the last three months, with 43% believing that now is the right time to buy, up from 41% in June.

Confidence is markedly higher amongst those already on the housing ladder: 51% of home-owning respondents thought that now was a good time to buy, compared to 32% of renters or those still living with mum and dad.

Commenting on the findings, the BSA’s head of mortgage policy, Paul Broadhead, says: “It’s clear … that consumer sentiment coupled with some perceived barriers is dampening activity in the housing market right now.”
He adds: “Undoubtedly consumers have some fears over long-term job security and unsurprisingly pressure on household budgets is also having a huge effect.”
At least, consumers would appear to be more upbeat today than they were back in 2008.

the_flying_pig

Super, super news.

:dance:

Graham_Devon

I'm sure 8 out of 10 want Aston Martin's too.

What does this prove may I ask?

wotsthat

Graham_Devon wrote: »

I'm sure 8 out of 10 want Aston Martin's too.

What does this prove may I ask?

2 out of 10 prefer Whiskas?

IveSeenTheLight

Graham_Devon wrote: »

I'm sure 8 out of 10 want Aston Martin's too.

What does this prove may I ask?

Proove? probably nothing, but many people believe that markets are affected by sentiment and there's quite a bit of positive sentiment related in the article