The grey £ is more important than ever in British property.
The latest Rightmove data throws up interesting reading – the grey £ is driving today’s property market:
· The two most active age ranges in theUKproperty market are the 45 to 54 bracket, making up 25% of those planning to put their properties on the market in 2013.
· 55 to 64 year olds add another 30%.
· Those aged over 65 contribute a further 16%, leaving just 29% of intending sellers aged under 45.
· Half of those who intend to buy (49%) will be doing so for at least the third time.
· ‘Downsizing’ is the number one reason for selling in nine out of ten regions in theUK.
Downsizers are moving for a better lifestyle and, in particular, people moving out ofLondoncan afford to downsize in style to more luxury and to the best locations.
The bungalow is being replaced by the apartment as the property of choice with downsizers for reasons of security,...