Assetz® News » HOME | RSS Feed FEED | LIST ALL ARTICLES | ASSETZ HOMEPAGE
Investment Property News from Assetz

Assetz® Property News Service

Second stepper sales in decline


30th October 2012 | back to article listings BACK    print this article PRINT

A new study has found that sales of second stepper properties have declined in 65% of places in England and Wales - the highest proportion since 2009.

The research, which was conducted by Lloyds TSB, shows that sales of such properties went down in 374 of the 577 towns and cities covered in the survey during the first seven months of this year.

The total has risen by 2.2% from 366 at the same point in 2011, with towns in the south of England experiencing the largest falls, and Lloyds TSB housing economist Suren Thiru says that action is needed to improve the situation.

"The current difficulties facing second steppers remain one of the key challenges in today's property market, which needs to be addressed to avoid the traditional property ladder turning into something of a slippery slope."

Greater London (79%) is the region with the highest proportion of places that saw a drop in second stepper sales but the north of England (73%) and the North West (70%) were not too far behind.

And Lloyds TSB found that first-time buyers intended to stay in their first home for an average of four years, so a lot of second steppers in 2012 bought their first house at somewhere near the peak of the UK property market.

Copyright Press Association 2012


Assetz® is a UK Property Investment Specialist. Please visit our property sites shown below.

Assetz for Investors UK Assetz Finance

Accessing the news service

You can view all of the Assetz® UK Property Investment Articles and News here.

We also provide an RSS Feed Feed of the news service, or you can view all articles. Click here to view more information on RSS readers and how they make reading online news more convenient.

Cookies on our sites
The assetz.co.uk group of websites uses cookies, some of which may have been set already. Read about our cookie use. If you continue to use the site, we'll assume that you're happy to accept them. To dismiss this message please click the button.