Credit crunch 'stopping people climbing property ladder'
Fewer people have a desire to climb the property ladder as the economic downturn rumbles on, one TV property expert has claimed.
George Clarke, presenter of Build a New Life and Channel 4's The Home Show, said that this mentality was the only good thing to have come out of the credit crunch.
Many households were also less likely to wish to compete with their peers in terms of property, he added.
"Rather than people going off and doing their grand designs and moving to big houses, people are wanting to stay where they are and consolidate what they've got," Mr Clarke stated.
And such news may mean that Britons will be content to find flats to rent in Notting Hill, rather than buying an expensive home in the city.
Should their landlord give them permission, such tenants may wish to put their own stamp on their rented accommodation, after the annual Halifax Home Improvement Survey revealed that redecorating is the nation's most popular home improvement.
Written by Andy Britten
Published 8th October, 2009
© 2009 Estates IT Limited
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The ongoing credit crunch is stopping people from climbing the property ladder, it has been claimed - which may mean more people are renting.