• Find a mortgage adviser
• Press releases
• Media resources
• Mortgage market research
• Mortgage commentary

• Consumer
• Media
• Adviser

You are here: Home > Media > Press releases > Is 2010 the year of the home buyer?

• Media resources
  • Find a media mortgage adviser
  • Press releases
  • Case study request
  • Mortgage market research
  • Media contact information
  • Join the mortgage adviser media directory
  • Amend your mortgage adviser media directory entry

• 18% of consumers think house prices have reached their lowest level and a third believe house prices are starting to rise
• Optimism returns to the market as only 3% are holding back buying a property as they believe house prices have further to fall
• Buyers believe they can negotiate the value of a property down by 11% compared to 15% last year

Research* from Unbiased.co.uk, the professional advice website, shows that 2010 could be the year of the home buyer. Consumers no longer expect house prices to fall as only 3% are holding off buying a property until prices have fallen.

Despite over half (51%) of people saying that house prices wouldn’t recover until late 2010 onwards back in January 2009**, nearly a third (29%) of Brits now say that house prices are starting to rise and 18% say that they have reached their lowest level.

When it comes to prospective first time buyers***, nearly a third (31%) are holding off buying their first property as they try and save a big enough deposit and one in ten (10%) are waiting until they have greater job security.

However, with people believing house prices have reached their bottom levels they have become less optimistic about negotiating the value of a potential property. 22% of people now think that you may be able to negotiate the value of a property by 15% of the asking price compared to nearly a third (30%) who thought you would be able to negotiate the value of a property by that amount in January 2009.

On average consumers currently believe they can negotiate the value of a property down by 11% of its original asking price, reduced from the average of 15% in January 2009.

Karen Barrett, Chief Executive of Unbiased.co.uk, “The last year has seen a real shift in the attitudes of consumers towards buying a house. No longer are potential homebuyers biding their time until house prices have fallen.  They are now looking to buy and gathering the means to do so. Despite strict lending criteria and the prospect of increasing house prices, people are also still prepared to negotiate the value of their home down from the asking price although their expectations may be slightly lower.

“With interest rates holding at an all time low consumers are seeing the importance of getting the right mortgage now more than ever. Those buying a new property, but also those looking to remortgage, will benefit from seeking professional advice on the whole of the mortgage market to get the best mortgage deal for their circumstances.”

Visit Unbiased.co.uk’s ‘find a mortgage adviser’ search to find a mortgage adviser close to where you live who can advise you on mortgage products from the whole of the market.

ENDS

For further information on Unbiased.co.uk, the professional advice website pleases contact:

Sign up to Unbiased.co.uk’s unique Professional Connections service, allowing IFAs, mortgage brokers and solicitors to find and link up with other professional advisers across the UK to expand their current business network.

To stay connected to Unbiased.co.uk and for up to date news and views you can now follow us on Twitter http://twitter.com/Unbiased_co_uk

Notes to Editors

*Opinium Research carried out an online poll of 2,005 British adults from 20th to 23rd November 2009. Results have been weighted to nationally representative criteria.

**Opinium Research carried out an online poll of 2,088 British adults from Friday 23rd January to Tuesday 27th January 2009. Results have been weighted to nationally representative criteria.

***These statistics are based on the small sample of 55 First Time Buyers found by this research

Unbiased.co.uk, the professional advice website

Unbiased.co.uk is the free and confidential UK-wide search service matching consumers with the most appropriate local professional advisers for their needs.  In 2008, Unbiased.co.uk fulfilled over half a million searches for local, professional advice. 

The portal currently houses three professional advice searches: ‘find an IFA’, ‘find a mortgage adviser’, and ‘find a solicitor’, and is inviting accountants to sign up for its ‘find an accountant’ service.  These searches enable consumers to find relevant professional advisers by postcode, area of specialism and payment method, amongst other options. 

IFA Promotion, the organisation behind Unbiased.co.uk, is now in its 20th year, and was set up to promote the benefits of independent financial advice to the consumer. 

Unbiased.co.uk’s product provider sponsors

Registered Office: Unbiased.co.uk is the consumer brand of IFA Promotion Ltd, 90 St. Vincent Street, Glasgow G2 5UB. Registered in Scotland: No. 114606

Send to a Friend

Your Email:

Your Friend's Email:

Type in the below text:

Your Message: