Prospective buyers are ''willing to stretch themselves financially''


Wed 4th Jun, 10:17:59 BST
More than one-third of Britons are willing to go over-budget when buying a property, despite widespread concern that house prices will fall in the coming year.

Hundreds of those questioned by BBC''s Panorama said the UK had been unrealistic about house pricing.

But 37 per cent were still willing to exceed their budget and put themselves under financial pressure, to get the property of their dreams.

Professor Steve Wilcox told Panorama: "It''s almost like we''ve had a collective loss of memory.

"A lot of people have invested in the market over the last ten years because of the way they''ve seen it going up, and sort of assumed it is going to keep on going up like that."

"Prices go down as well," he added.

More than half the people surveyed wanted house prices to continue falling and nearly 80 per cent expected them to fall, or at least stay the same.

But the majority of homeowners – 81 per cent – wanted prices to keep rising so they could make a profit on their properties.
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