There has been an increase in the number of consumers looking to buy houses in the next ten years, suggests new research.
People are more likely to include house buying in their long-term plans rather than in the short-term, found a recent report published by the Council of Mortgage Lenders (CML).
Of those surveyed 85 per cent of the respondents reported that they would look into purchasing a house in the next ten years.
However, there was drop in interest for house purchases in the short-term, that is within the next two years.
While, in 2007 short term interest in house buying had been expressed at 78 per cent, it has slipped to 76 per cent in the present.
It was found that buyers in the 18 to 24 age bracket were the most interested in buying a house in the long-term, with 88 per cent confirming such a desire.
Recently, Liam Bailey, head of residential research at Knight Frank, predicted that lending in the mortgage market would continue to be stable without any major changes.  |
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