Property buyers in the UK are not willing to compromise

Despite the fact that residential property prices in the UK continue to grow, only one in ten buyers ready to compromise when choosing the future place of residence.

To find the perfect home remains a problem for residents of the UK. According to a survey conducted by the largest online real estate portal Rightmove, 79% of potential buyers expect prices to rise over the next 12 months, but buyers are still very selective and picky, especially in matters of the choice of the future place of housing. 32% of respondents said that had found a home in the perfect location, and 58% are still in the search process, and meanwhile, asking prices for residential property are now at its highest for the last 6 years and no signs of a slowdown in property prices in the medium term. With the acute shortage of new housing coming onto the market, the pressure on the market from buyers will only increase.

The real estate market of great Britain is in conflict between buyers who are not ready to compromise and the rise of housing prices. While the buyers are waiting to see what will appear in the place where they like, they’ll wait until prices rise even more and they will not be able to stay within your budget. As demand far exceeds supply, selection in the market is extremely limited.

The fact that approximately one-third of buyers found a satisfactory options is encouraging, but the remaining two-thirds of buyers, seeing for themselves the appropriate options, you can not put your current property for sale that also inhibits the market.

The reluctance of buyers to compromise regarding your future place of residence has a negative impact on the market. If the buyers were ready to expand their location criteria even within a few miles, they could find exactly what they need, but at a more affordable price and the market could get a new batch of real estate from buyers, put on sale its former housing.

® Helen Entree. 12.05.2014

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