Home buyer optimism on the up, says Royal Mail

Half of all renters in the region intend to buy their own home, with 24% more optimistic about the housing market than in 2013, according to a Royal Mail survey of redirection service users.

Royal Mail commissioned Ipsos MORI to conduct a survey of people across the UK who moved home, looking at trends in the home moving market through the experiences of redirection customers. The results were taken from 12,724 owner occupiers and renters

Of those who rent in the North West, the survey showed that 50% plan to buy their own home in the future, with 24% more optimistic than last year about buying a home in the future. This compares with 15% who say they are more pessimistic.

The survey also showed that people are being patient to ensure that they buy the right property. In the region 49% of home buyers waited longer to move than they would have wished. Only 25% blamed a shortage of properties to meet their needs, the lowest proportion in the UK, while 16% cited the high cost of the next home on the property ladder as the reason.

Of parents surveyed, 21% had moved into a bigger home in the expectation that children would still live with them into their 20s.

While 79% of all surveyed across the country were pleased with their new home, 5% of Londoners were disappointed in their purchase, blaming competition for property for putting them under pressure to buy.

Andrea Martin, managing director of date services at Royal Mail, said; "Royal Mail's inaugural home movers study of redirection customers provides a fascinating snapshot of the UK home moving market. It is interesting to see so many people buying larger properties in the expectation that their children will be living with them longer into adulthood. Alongside this, patience is proving a virtue in the house buying market with people prepared to sit it out to find the right home for them."

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