ALMOST a third of North-East homeowners who wanted to move house in 2017 cancelled their plans over property market concerns, figures show.
Property advice website, Fasthomes.org utilised a report from the HomeOwners Alliance to investigate whether homeowner’s plans to move, or buy for the first time, had changed following the unsettled housing market.
They found that 27 per cent in the North-East and 19 per cent in Yorkshire and the Humber cancelled plans to move due to concerns over the unpredictable market.
Other reasons included the rising cost of living and difficulties in getting a mortgage.
The region least affected was the East Midlands, with just 11 per cent saying they were likely to curb plans to buy or move home.
Commenting on the figures, Paula Higgins, chief executive of the HomeOwners Alliance said: “Our research demonstrates that both first-time buyers and those who already own a home are choosing to play it safe in these uncertain times.
“We can expect further uncertainty in the market until the UK’s future relationship with Europe is more clearly defined.
“People putting off plans to buy or sell chokes housing supply and generates pent up demand. The housing market needs certainty in order to be able to function most efficiently.”
The research can be viewed at Fasthomes.org
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