Housing market confidence breaks through

| August 26, 2009 | 0 Comments

Britons are regaining their confidence in the UK housing market, with 35% of vendors currently prepared to stick with their asking price, rather than drop to secure a sale.

According to new research from The Co-operative Bank, a change in attitude is taking place among sellers, although home buyers are holding back, with only 12% prepared to offer the full asking price for a property.

Scottish vendors are the most likely to hold out for the full asking price at 40%, whereas those in the East Midlands are most open to negotiation.

The study also reveals that 54% of people questioned have begun to feel more optimistic about the UK housing market recently, with 29% of this group noticing positive vibes within the last month.

The Co-ops director of retail banking, John Hughes, comments: “With much speculation about green shoots of recovery in the housing market, the findings do indicate that consumer optimism is starting to return, although there clearly still remains some way to go.”

In the meantime, homeowners are keeping themselves busy with maintenance and developing strategies for a sale.

Forty-nine per cent respondents said they would repaint their houses; 10% planned to send away pets during viewings; 5% were studying feng sui and 2% hoped to enhance their chances of a sale by borrowing a classy motor to park in the drive.

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