HomeNewsBusiness News
Teessiders ‘keeping a foot on property ladder’
LOCAL housing experts say Teesside is bucking a national trend of homeowners looking to get off the property ladder to ease their financial worries.
According to change of address website iammoving.com, about 18% of homeowners who are planning to move said they were thinking of going into rented accommodation so they could sell their home near the top of the market and buy another once prices fall.
But local estate agents believe this is an unfair reflection of the local market, where property values have not been subject to the same volatility as those seen in other areas.
Simon Brown, operations manager for Stockton-based Browns Estate Agency, said: “Teesside does not follow the national picture. People here are not looking to cash in on their properties by selling them.”
Lee Ingleby, partner of Ingleby’s Estate Agents in Saltburn, added: “The market may have slowed but people are still looking for home-ownership.”
According to figures from the Nationwide building society today, annual house price inflation has fallen to its lowest rate for 12 years, with prices falling by 0.6% in March.
