Buyers are still looking to move, survey says

Despite the current precarious financial climate, buyers are still looking to move, according to a FindaProperty.com survey.

Over 50 per cent of respondents said that they were looking to buy a property in the near future with 37 per cent stating that they would look to move within the six months.

According to the survey, people do not want to move simply because they have to.

The most popular reason for buying a new home was to make the transition from renting to owning a property.

Over 20 per cent of respondents wanted to buy a property to upgrade from a rental position, while 16 per cent would seek a move to establish a home with a partner.

Michael O'Flynn, content editor for FindaProperty.com, said it has become "proverbial wisdom that the only people contemplating a move at the moment are doing so because they have to".

However, the survey revealed that many are also "planning to move because they want to", he said.

New figures from the Council of Mortgage Lenders have found that the number of loans to first-time buyers declined to 17,300 in July, down 48 per cent from the same month last year.