64% of UK population want house prices to keep falling!
Wednesday 27th May 2009
A week may have passed since Property Watch graced our screens, but the impact of their show is still rippling across the press.
The most significant part being their ICM poll.
Asked whether they wanted to see house prices rise again, 64% of the UK’s population stated that they would prefer for them to either remain the same or continue decreasing, compared to 32% who wanted them to rise again.
What does this mean?
Compare these figures to what is currently playing out across the press and the contrast is quite surprising.
Look in any news article about the property market, and they suggest homeowners are unhappy with their properties depreciating in value.
However, as the ICM poll goes on to prove, the public are far more aware of the benefits which can arise from falling house prices than the press are actually revealing.
The ICM Poll – the results
When asked: “Thinking about your current circumstances, do you want house prices to increase, decrease or stay the same?”, the ICM poll revealed two distinct age groups. Those between 55 to 64 and young professionals:
40% of 55 to 64 year olds wanted prices to rise
21% of 55 to 64 year olds wanted prices to fall
18% of 18 to 24 year olds wanted higher prices
52% if 18 to 24 year olds wanted lower prices
Analysing this data it is not hard to see why these distinctions have developed. With many young professionals struggling to acquire the 10-25% deposits needed to get a mortgage, if house prices continue to fall in value, this will help them to invest more easily.
However, for those nearing retirement, losing further equity from their properties could hinder their pension plans.
What about the country as a whole?
Breaking down their findings across the entire breadth of the UK, the ICM poll suggests the further up the UK you travel the more people want house prices to rise.
In Scotland, 38% of those interviewed wanted prices to rise again, whilst 38% of those interviewed in the West Midlands wanted house prices to continue decreasing.
How can this information affect you?
Simple. As an investor who can take advantage of what these homeowners cannot… falling house prices.
As this poll proves, many homeowners are aware of the perks falling house prices can give them when it comes to buying a property. However, without having access to at least a 10% deposit, they cannot take advantage of it.
Using the Property Mentor system you can.
By attending the 2 hour taster session, you will learn how to invest in these properties using little, if any, of your own money and make property a long term profitable asset.
Interested in learning more about property investment can benefit you? Why not attend one of the 2 hour taster sessions to find out more.