Fewer people are planning to move home in the next 12 months, according to new research released by Clydesdale and Yorkshire Banks today (Monday 13th July 2015).
Only 12% of those surveyed in the Banks’ Housebuyers research are planning to collect the keys to a new property in the next year. That’s a drop from 14% at the start of 2015 and from 17% 12 months ago.
Steve Fletcher, Director, Retail Banking, said: “It’s an interesting time in the property market as our research indicates there will likely be a decrease in the number of homes being put up for sale.
“In some areas this is resulting in pent-up demand which is pushing up property prices which is clearly welcomed by sellers. However, for some people it is a deterrent as they are concerned about being able to find their dream property due to the limited selection of homes on the market.”
June 2015 | Jan 2015 | June 2014 | |
---|---|---|---|
Planning to sell | 12% | 14% | 17% |
Planning to extend or improve | 22% | 24% | 28% |
A further 44% of those surveyed plan to stay in their current home while 22% said they are intending to improve or extend their property. Finances are key for 7% who plan to re-mortgage or to make overpayments to reduce the size of their mortgage.
Londoners are the most focused on moving home with 19% hoping to collect the keys to a new property in the next 12 months compared with only 5% in the East.
Region | % planning to sell and move |
---|---|
London | 19% |
Yorkshire | 15% |
Midlands | 14% |
Wales | 14% |
UK average | 12% |
North West | 11% |
Scotland | 11% |
South West | 11% |
South East | 9% |
North East | 9% |
East | 5% |
Clydesdale and Yorkshire Banks have a range of competitive mortgages including a two year fixed rate fee free rate of 3.59% for loans of up to 90% LTV.
For more information, customers can contact their local branch, call 0800 22 24 26 for Clydesdale Bank or 0800 20 21 22 for Yorkshire Bank, or visit our websites: www.cbonline.co.uk or www.ybonline.co.uk
You can find impartial information and guidance on money matters on the “Money advice service” website.
Clydesdale Bank is covered by the Financial Services Compensation Scheme (FSCS), Find out more.