Confidence returns, survey finds.CONFIDENCE in the property market is on the rise, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a new survey. Six out of 10 people looking to buy a new home think prices will not fall any further during the coming 12 months. And only 35% of those questioned said they thought the property market correction Market correction A relatively short-term drop in stock market prices, generally viewed as bringing overpriced stocks back to a level closer to companies' actual values. still had further to go, down from 69% who expected further price falls when the same research was carried out three months ago.. Young people are most optimistic with 41% of people aged between 18 and 24 expecting property prices to rise during the coming year, according to property website Rightmove which conducted the research. Miles Shipside ship·side n. The area of a dock adjacent to a ship. Noun 1. shipside - the part of a wharf that is next to a ship , Rightmove's commercial director, said: "The fact that a majority of consumers feel confident that prices are set to stabilise or increase in the next 12 months is a key indicator that the worst of the falls may be over.. "So far this year we've seen email inquiries to agents soar by 109% compared with the same period last year." The research is in line with reports from estate agents that potential buyers are returning to the market in a bid to take advantage of recent house price falls and record low interest rates. Justin Anim, managing director of Pattinson Estate Agents, agrees that the drop in property prices has slowed.. He said: "I think that the rate of fall in property prices has slowed down dramatically. However, buying property is a long-term thing and measuring it in terms of months is impossible. "There has been a groundswell ground·swell n. 1. A sudden gathering of force, as of public opinion: a groundswell of antiwar sentiment. 2. of interest of people wanting to buy as the interest rates are low; it is a good time to buy, there's no doubt about that. "But it's all dependant on Adj. 1. dependant on - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, contingent upon, dependant upon, dependent on, dependent upon, depending on, contingent mortgages and their availability." James Abbott, head of agency at Smiths Gore's Corbridge office, agrees with the survey results. He said: "I think that, in the main, the results are correct as supply to the market is limited - there are lots of potential sellers who have been put off putting their homes on the market. "This means that there are more buyers about focusing on a smaller amount of properties. "However, I don't think prices are going to increase in the next six to nine months either." |
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