Housing desire ‘can be reignited’

People who have given up on home ownership can be persuaded to start thinking about purchasing a property again, the National Association of Estate Agents (NAEA) has sated.

A poll by the body found that between 25 per cent and 30 per cent of people in cities such as Manchester, Cardiff, Brighton and Belfast no longer have ambitions to own a home, although the figure is as low as 11 per cent in London.

NAEA chief executive Peter Bolton King said the recession was a factor in this, but also blamed the government over stamp duty and lenders concerning mortgage availability.

However, he suggested, people who have turned their backs on buying can change their minds.

“They can be turned around and the NAEA would strongly urge the government and the lenders to do more to harness the emerging indicators of recovery seen across the housing market,” he stated.

One positive sign is the recent decision by Barratt Developments and Redrow to seek financing for new construction projects through new rights issues.

It was “only a matter of time” before this happened, business editor at Construction News Nick Whitten said.

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