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Real Estate News Releases
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(EMAILWIRE.COM, May 19, 2009 ) UK - There seems to be a different prediction every five minutes for the future health of the UK property industry – it’s become the ultimate ‘water-cooler’ conversation in the office and the staple of all small-talking dinner parties – now, new research has found that the majority of people looking to buy a new home think that prices will not fall any further during the coming year…
Hold the front page - something has overtaken The Apprentice in terms of office gossip – property.
The new survey for Rightmove, which found that six out of ten people believed that prices of properties in the UK would not fall any further within the next 12 months, also showed a vast improvement in consumer confidence levels.
You may well ask whether this is a result of naïve optimism, blind faith or careful considered research on booms and busts of the past. The truth is that nobody really knows what is going to happen in the UK property market although that hasn’t stopped us all waxing lyrical on the topic day in day out.
Whilst 35 per cent of respondents to this new survey said they thought the property market correction still had further to go; when the same survey was carried out three months ago, 69 per cent were of that mindset.
A whopping 53 per cent of people said that they were looking to buy a property in the next year, to take advantage of prices that are lower than they have been in years and hinting at the sense that an upturn is not too far away. Twenty-five per cent of people were hoping to sell their home within the next 12 months.
The most optimistic category was the group aged between 18 and 24, with the majority of them feeling that house prices will rise in the next year.
Miles Shipside, Rightmove’s Commercial Director, said, “The fact that a majority of consumers feel confident that prices are set to stabilise or increase in the next 12 months is a key indicator that the worst of the falls may be over.
“It’s not just sentiment either; home hunters are constantly searching, resulting in over 40 million visits to the Rightmove website each month.
“So far this year we've seen email inquiries to agents soar by 109 per cent compared to the same period last year,” he added.
The Rightmove research fits in with claims that buyers are returning to the market in a bid to take advantage of recent house price falls and record low interest rates.
For more information on UK properties and the property market in general, please visit http://www.themovechannel.co.uk/
-ENDS-
Notes to editors:
TheMoveChannel.com is a property website that was founded in 1999 as an online resource for buying, selling and learning about property. It now receives as many as 300,000 visits per month and advertises over 50,000 properties in nearly 90 countries, which are listed by over 500 partner organisations.
For further information, please contact:
Dan Johnson
Managing Director
www.themovechannel.co.uk
0207 952 7650
)
TheMoveChannel.com
Dan Johnson
020 7952 7650
dj@themovechannel.com 
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