1 in 20 UK households plan to buy property in the next year, according to Knight Frank, while 20 per cent say they plan to purchase a home in the next five years.
The survey shows that 1.35 million households are planning to buy a residence in the next year, highlighting the rising demand for homeownership across the country – and the improved confidence among buyers. If all potential purchasers were to achieve a sale, this would mark an 18 per cent, or 200,000, rise in transactions over the next 12 months, in line with the OBR’s forecasts released at the Budget last month.
However this demand could overwhelm supply coming onto the market, suggesting that some households may not achieve their goal of buying a property.
Source: The Movechannel