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British people say they cannot afford to move house in 2012

RAY CLANCY Property Community
Stagnation in 2012 as young unable to buy and older home owners unwilling to sell

Stagnation in 2012 as young unable to buy and older home owners unwilling to sell


Only 12% of British people plan to buy or sell a property in first six months of 2012 with young people in particular saying they cannot afford to, research unveiled today (Friday 27 January) shows.



It is leading to a generational divide in the UK property market that is likely to cause housing stagnation in 2012, with young people unable to buy and older home owners unwilling to sell, according to a new survey by HSBC.

The 2012 HSBC Moving Home Survey, which asked more than 2,000 adults about their home buying and selling intentions over the next six months, revealed that only 12% are thinking about moving home or getting on the housing ladder.

Of those house holders not looking to move, 61% of people aged 55 and over said it was because they are happy with their current property compared to just 28% of those aged 34 and under.


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