Home owners cautious despite growing economic confidence

Home owners cautious despite growing economic confidence

06 October 2009 by Staff Reporter 0 comments

A new study from Consumer Insights has found the global financial crisis has forced more than one in four home owners to sell their property.

According to a report in The Daily Telegraph, 28 per cent of the 2,270 home sellers gave the global economic slump as the main reason for selling.

Lower income earners and older home owners were the hardest hit, with those aged between 45 and 54 more likely to sell in coming months.

Realestate.com residential general manager Peter Wright said many sellers wanted to reduce their financial burdens.

"This report suggests property owners are re-evaluating financial priorities by taking a more realistic approach to what they can afford," he said.

"Despite speculation of growing economic confidence, home owners are treading with caution."

A new study from Consumer Insights has found the global financial crisis has forced more than one in four home owners to sell their property.

According to a report in The Daily Telegraph, 28 per cent of the 2,270 home sellers gave the global economic slump as the main reason for selling.

Lower income earners and older home owners were the hardest hit, with those aged between 45 and 54 more likely to sell in coming months.

Realestate.com residential general manager Peter Wright said many sellers wanted to reduce their financial burdens.

"This report suggests property owners are re-evaluating financial priorities by taking a more realistic approach to what they can afford," he said.

"Despite speculation of growing economic confidence, home owners are treading with caution."

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