One in five consider cashing in their home

Published on Thursday 27 March 2008 21:04

NEARLY one in five people are considering getting off the property ladder to cash in on the value of their home before prices fall.

About 18 per cent of homeowners who are planning to move said they were thinking of going into rented accommodation, in the hope of being able to sell their home near the top of the market and buy another one once prices have fallen, according to a poll.

While most commentators expect house prices to end the year at about the same level they started it, some are predicting falls of up to 10 per cent during the coming two years.

The research also found that a further 14 per cent of people planning to move are considering renting to free up money they have tied up in their home to ease cash-flow problems.

The survey of 1,100 people also found that 9 per cent were thinking of renting a home following a relationship break-up, while 7 per cent of movers were getting off the property ladder because they were planning to move abroad, and 3 per cent did not want the responsibility of owning a home any longer.