9 Jan

Homebuyers mulling purchases in face of price moderation

Homebuyers mulling purchases in face of price moderation

UK homebuyers have been spurred into action by signs that house prices appear to be moderating, a new study shows.

According to research from personal finance website Fool.co.uk, one in ten UK homebuyers have been encouraged by a slowing in the rate of house price growth and are now preparing to take the plunge.

Of these 38 per cent said they were now planning to buy a home this year, while 34 per cent have earmarked 2009 as the date they invest in a property.

David Kuo, head of personal finance at Fool.co.uk, said: "The long-overdue correction in the property market will allow many people who have been waiting to move house to finally realise their dream."

Should house price growth fall in 2008 it would bring an end to a seven-year period of accelerated growth during which time the average home appreciated in value by 13 per cent per year, according to data from Fool.co.uk.

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