AROUND 75% of people in the South East think that now is a good time to sell but not necessarily a good time to buy according to recent statistics.
Figures from the Halifax Housing Market Confidence Tracker found that nationally 57% of people think now is a good time to sell, while in the South East, confidence is much higher at 75%.
However, the proportion of people who feel that now is a good time to buy has fallen, with those in the South East the most negative at just 36%. Meanwhile, 84% of people in the South East also predict that house prices will increase in the next 12 months.
“Over the past two years consumer confidence has continued to grow, however it appears that we’ve reached a tipping point with the equilibrium between buyers and sellers much more out of sync,” explains Craig McKinlay, Mortgages Director at Halifax. “The results highlight the regional variations as now people believe that it’s a good time to sell but not buy, particularly in the South East where house price expectations are generally higher and buyers appear to be less inclined to rush into buying.”