Survey shows 7% plans to buy in six months

Three million people, nearly 7% of the adult population, are planning to buy a new home in the next six months, a survey by mform.co.uk reveals.

The home purchasing index, which has just been launched by mform.co.uk to track the number of people planning to buy a home on a quarterly basis, reveals 7% of the are planning to purchase before July.

The London property market looks strongest, where the figures are as high as 10%, while East Anglia had the lowest proportion of prospective buyers at 4%.

In Wales, the West and the South-West 7% of people plan to buy within six months, while in the South, the North-East, Scotland and the Midlands it is 6% and in Lancashire and Yorkshire only 5%.

Eamonn Rice, chief executive of mform.co.uk, says: “We estimate that between 2001 and 2006, the average annual amount spent on mortgages by people with home loans increased from around £4,600 to £6,600 and it will be nearer £7,000 now.

“Despite the fact that house prices and interest rates are likely to rise, the number of people looking to purchase a new home is still very high.”