Fewer people are planning to move home in the next 12 months, according to new research released by Clydesdale and Yorkshire Banks today (Monday 13th July 2015).
Only 12% of those surveyed in the Banks’ Housebuyers research are planning to collect the keys to a new property in the next year. That’s a drop from 14% at the start of 2015 and from 17% 12 months ago.
Steve Fletcher, Director, Retail Banking, said: “It’s an interesting time in the property market as our research indicates there will likely be a decrease in the number of homes being put up for sale.
“In some areas this is resulting in pent-up demand which is pushing up property prices which is clearly welcomed by sellers. However, for some people it is a deterrent as they are concerned about being able to find their dream property due to the limited selection of homes on the market.”
|June 2015||Jan 2015||June 2014|
|Planning to sell||12%||14%||17%|
|Planning to extend or improve||22%||24%||28%|
A further 44% of those surveyed plan to stay in their current home while 22% said they are intending to improve or extend their property. Finances are key for 7% who plan to re-mortgage or to make overpayments to reduce the size of their mortgage.
Londoners are the most focused on moving home with 19% hoping to collect the keys to a new property in the next 12 months compared with only 5% in the East.
|Region||% planning to sell and move|
Clydesdale and Yorkshire Banks have a range of competitive mortgages including a two year fixed rate fee free rate of 3.59% for loans of up to 90% LTV.
For more information, customers can contact their local branch, call 0800 22 24 26 for Clydesdale Bank or 0800 20 21 22 for Yorkshire Bank, or visit our websites: www.cbonline.co.uk or www.ybonline.co.uk