3 Jun

Britons 'willing to stretch their budgets to buy property'

Britons 'willing to stretch their budgets to buy property'

More than one-third (37 per cent) of British adults would be willing to financially stretch themselves to purchase a home, according to the results of a BBC Panorama poll.

This response is despite 79 per cent of respondents saying they believe the UK has held unrealistic ideas about affordable housing in recent years and 59 per cent claiming homebuyers have become more realistic about what they can purchase due to the credit crunch.

People were divided regarding their hopes for the direction of house prices, with just over half of all respondents saying they would like them to go down. However, 81 per cent of current homeowners want to see rises.

Commenting on the findings, housing expert Steve Wilcox told the programme that the county has suffered "a collective loss of memory" about how the property market can change.

The National Association of Estate Agents recently suggested that people are adopting a "wait and see" attitude towards buying a home.

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