November 21, 2008

Results of property survey not good

Not only is there a collapse in the property market itself, but there is according to a recent study a total collapse in the consumer confidence in the property market, this is bad news for those who hope to see a recovery in the property market soon.

The study found that in 2006 buyer’s confidence was at eighty six per cent, yet just two years later that confidence has fallen to only seven per cent. The same sort of picture can be seen in the commercial sector too, confidence in that sector has fallen from ninety one per cent to eighteen per cent.

These concerns are not being helped by the current financial situation and the fact that anyone wishing to find a mortgage is going to have a hard job ahead of them, as the banks are not going to be a carefree with their money as they have been over the past ten years or so.

Source [Web Treu Estate]