Cautious homeowners not moving with the times

Rosemary Rogers, Director said:

“The news agenda throughout the third quarter was dominated by the impending Spending Review.

“With the government warning the country of dramatic cuts, contradictory signals from property indices and mortgage lenders continuing to be highly selective, many homeowners and renters have chosen to hold back from moving home. We expect this trend to continue over the coming months as consumers remain cautious over the impact of the spending review.”

“For those who were moving over the last quarter a few observations can be made. With Dorchester, Taunton and Hereford all featuring in the top 5 most popular areas, the South West has drawn the highest proportion of new residents, continuing a trend from Q2. By contrast East and South West London have seen more people move away than move in. However, the absence of a clear moving pattern is indicative of an uncertain market, where activity levels remain subdued.”

“Ilford appears in the bottom 5 for local moves for the second successive quarter while St Albans has retained the highest proportion of its residents. The surprising statistic of the quarter is that Truro retained just 29% of its residents despite the fact it saw the highest proportionate influx of residents in Q2 and is now ninth in Q3. This suggests that the large numbers of out-of–towners moving to trendy Cornwall is forcing out some of the towns current residents.”

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