2 million to take advantage of falling house prices
Posted by James Mace at 14:27 on 10 Jun 2008
credit crunch, falling house prices, abbey mortgages, 2 million homeownersSome interesting research has been released today, suggesting that 2 million homeowners are set to take advantage of falling house prices.
According to the Abbey Mortgages’ report, 1.2 million homeowners are looking to upsize at a bargain price while over 800,000 plan to sell and move into rented accommodation. In addition to this, a further 1.1 million people are planning to downsize their homes in order to free up capital and battle against the credit squeeze.
Many homeowners (67 per cent) are planning to stay put over the next 12 months with 39 per cent of them planning to do some home improvements to try to add value to their homes.
