Supply squeeze: aspiring buyers say lack of homes for sale bigger problem than high prices

Savills conducted a survey and found that nine out of 10 potential home buyers believe that there is not enough stock to buy. Savills conducted a survey and found that nine out of 10 potential home buyers believe the lack of stock is keeping them from moving. Savills found that buyers have to keep their budgets in check in a more competitive market. Four out of five respondents said that the three consecutive rises in interest rates over the past few months had not had an impact on their budget. Nearly three quarters of respondents said that the rising cost-of-living has had no effect on their budget. “But buyers at the top of the market will have more equity than their homes and will be able fix into better rates, which will make them less affected by the squeeze. Our analysis suggests that as high as 30% of buyers will be cash buyers. READ MOREHouse prices hotpots: Truro, Southend and Bath beat London in rising property markets. What not to do now? The six types of London homes that could prove to be a poor investment. 47% of people looking at properties below GBP500,0000 stated that they felt the pinch because their budgets were shrinking. “Savills’ most recent analysis was based upon a survey of 1,300 sellers and buyers, which was conducted in April.