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Countrywide comment on the findings of the English Housing Survey

02-25-2011 05:40 PM CET | Industry, Real Estate & Construction

Press release from: Countrywide

Commenting on the findings of the English Housing Survey, Grenville Turner, Chief Executive of Countrywide, the UK's largest property services Group, said;
"The UK has traditionally been a nation of homeowners and whilst millions still aspire to buy their own property, current market conditions make that more challenging than usual. Our agents saw a 17 percent increase in new buyer enquires during 2010 but market transaction levels remained flat[1].

"Successive governments have widely encouraged homeownership but the impact of the recession has led to a structural change in the market with record levels of tenant demand. As the UK's largest letting agent we have seen a 37 percent increase in new tenant applications during 2010 with 4.5 tenants vying for every available property[2]. We are now beginning to see a shift in attitude, as a whole new generation is growing up choosing to long-term rent and the average age of a first time buyer has risen to 37[3].Record levels of tenant demand and a severe shortage of stock in the private rental market is a national issue which needs addressing."

To view the finding of the English Housing Survey, visit
http://www.communities.gov.uk/publications/corporate/statistics/ehs200910headlinereport

Sources:
1 Countrywide new applicant enquiries (2008 vs. 2010)
2 Countrywide tenant applications vs. available rental stock. There were 2.3 tenants vying for every available property in 2009, which grew to 4.5 in 2010.
3 CLG: Fist time buyers statistic http://www.communities.gov.uk/news/corporate/1845028

http://www.countrywide.co.uk

Countrywide is the UK's leading provider of integrated property services, employing around 8,000 personnel nationwide. Its UK network of local brands provides both corporate clients and home movers with a comprehensive range of property related solutions, delivered with valuable local expertise.

Countrywide House
88 - 103 Caldecotte Lake Drive
Caldecotte
Milton Keynes
Buckinghamshire
MK7 8JT

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