Planet Funds

Many home buyers continue to move ahead with their plans, according to a recent study.

Data from a recent survey by Fool.co.uk reveals that 38 percent of those surveyed who said they would be buying a home soon expected to complete the transaction this year, and another 34 percent will do it in 2009.

Many people who have been planning to move into homeownership will be encouraged to go ahead by current changes in the market, says David Kuo, head of personal finance at Fool.co.uk.  Too many people ask the wrong question when beginning the process, however.  They should be asking themselves what they can afford to repay rather than how much they can borrow, says Mr. Kuo.

The report indicates that over the next five years, sellers will outnumber buyers at a ratio of about five sellers for every four buyers.

Fool.co.uk is an online financial community that helps rethink their relationship with money.

The new Energy Performance Certificate (EPC) could make home buyers more aware of environmental issues when purchasing a home in the future, says the Home Builders Federation (HBF).

The new certificate will help buyers become more aware of the benefits of energy efficiency and good insulation, according to the homebuilders’ trade association.

The EPC will undoubtedly have an impact on the way buyers regard their purchase.  John Slaughter, director of external affairs for the HBF, believes that people will always take note of increases in the cost of energy.

In the long term, he believes the EPC will have a positive impact, leading to an increased awareness of the benefits of energy efficient homes with better insulation.  The advantages come not only from reduced costs but also from raising the comfort level of the home.

The Government’s “Building a Greener Future” program grants homeowners a stamp duty exemption for their carbon-neutral homes, encouraging them to be more aware of environmental concerns.

Housing prices in Northern Ireland grew tremendously last year, according to the Royal Institute of Chartered Surveyors, but they are beginning to slow.

Home sellers will need to be practical when pricing their homes this year, but RICS expects sales to continue.

The market has changed dramatically during 2007, according to Tom McClelland, housing spokesperson for RICS Northern Ireland.  Today, “agents have to work harder to achieve sales and sellers have to be more realistic about asking prices,” he says.

Changes in the market could ultimately work to the benefit of first-time home buyers, predicts McClelland, because fewer buyers are competing for homes in that price range.

By the end of last year, the housing price growth rate was 24.2 percent, making it the highest in the UK.