New figures from the Worldwide Property Group have revealed an increased desire amongst the general public to purchase property.
The company’s monthly confidence tracker survey shows that those people who say they are benefiting from lower interest rates has risen from 62% in September to 67% in October, whilst those who say this has increased their desire to buy has jumped from 56% to 63% over the month. This is yet further evidence of the improving state of the property market.
Further evidence of improving confidence in the market is shown by the increase in numbers expecting house prices to rise over the next 12 months, with 63% of respondents saying they expect to see rising prices compared to 60% a month earlier.
The survey also revealed more good news with a huge 87% of respondents saying they believe now is a good time to invest in property versus 85% in September.
Commenting on the figures, Kevin Wilkes, Managing Director of the Worldwide Property Group said: “Once again this survey reveals an improving picture for the property market. People are quickly realising that now is a great time to buy property.”
“With unbelievably low interest rates, and many house price surveys showing that increases earlier in the year were not a blip but rather the beginning of a sustained recovery in house prices, people are waking up to the fact that buying conditions will not get much better than they are right now. As a result higher numbers of people are taking advantage by either buying a home or a property for investment purposes.”
