Homeowners ''buy for personal reasons, not market conditions''


Tue 8th Jan, 15:35:58 GMT

A property expert has claimed that although many keep a watchful eye on the property market, most homeowners buy for personal reasons such as coming to the end of a rental agreement or starting a family.

Scott Brown, who works at Edinburgh-based estate agent Warners, told the Scotsman that "very few people move house because of market conditions" and that therefore homes will be always be in demand "regardless of peaks and troughs in property prices".

He added that he was expecting both Edinburgh and London to experience strong growth over the course of 2008 although the rest of the UK "may be hit pretty hard".

Mr Brown was one of a number of estate agents who today expressed their optimism in the year ahead.

Speaking to the newspaper, Angus MacPherson, managing partner at Drummond Miller, said that those who struggled to afford a property in 2007 are likely to be back this year to try again.

He added that with more realistic prices predicted, buyers look set to have more success over the next 12 months when it comes to purchasing a home. ADNFCR-1143-ID-18417919-ADNFCR


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