While prices may be slowing (see p6), the number of people looking to move is holding up and should prevent prices sliding too far, according to Sainsbury’s Bank.
Its Home Moving Index shows that the number of people intending to move between now and September is 6% of homeowners. This remains the same as the number who intended to move between October 2002 and March this year.
The research highlighted that many were realistic about the cooling market and would be prepared to sell for less than the asking price. Only 27% would hold out for their original asking price.
Lucy Hunter, mortgages product manager at Sainsbury’s Bank, said: ‘On a national basis, our research suggests the number of people moving home over the next six months will be similar to those who moved at the end of last year and the first quarter of 2003.