Consumers 'delaying purchase' of property in London
Many Britons do not believe that house prices will rise in the near future, research has revealed.
A poll conducted by first direct found that 16 per cent of people think increases will not be seen until at least 2012 - which could mean that those who have bought property continue to face negative equity.
With uncertainty over the direction of the housing market remaining, many people have delayed making a decision over purchases.
The highest proportion of these are in London, with 15 per cent choosing to wait.
As a result, 20 per cent have said they have postponed major decisions such as marriage and children, while 12 per cent do not expect to ever be homeowners.
Those who share such sentiments may prefer to look for flats to rent in Greenwich and across the capital.
Capital Economics recently suggested that mortgage lending will continue to remain constricted as banks attempt to cover their losses.
Written by Tom Price
Published 16th April, 2009
© 2009 Estates IT Limited
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Many Britons do not believe that house prices will rise in the near future, research has revealed.