Britain remains a nation of homeowners or aspiring homeowners and the present housing climate will not change that, it has been suggested.
Stephen Ludlow, director of residential property agent Ludlowthompson, rejected the idea that renting instead of buying might become an increasingly fashionable idea and stated that buying would soon be on the rise again when market conditions improved.
A principal reason for this would be the 100 per cent tax relief applied to homes when they are sold on, which he said made houses more attractive than other investments such as pensions.
He stated: "As long as that stays in place, you will always get a swing back to home ownership once you have got the fundamentals of the economy right."
Earlier this week, Peter Bolton King, chief executive of the National Association of Estate Agents, said people should not get carried away with the news that there had been a "tiny" fall in house prices in the last 12 months, given the large price rises that have occurred in recent year.
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