The fallout of the financial crisis has driven a dramatic shift in homeowners buying decision and has had a significant impact on the global property markets recovery.
The latest figures from a recent poll conducted by Simplyzigzag.com – Europe’s premier online estate agency – reveals a qualitative assessment of the financial crisis affecting homeowners buying decision.
According to the poll, a combined two thirds (60%) of homeowners feel the financial crisis affects their buying decision, with 33% of those waiting for stabilization before re-entering the market.
Achim Amann, Director at Simplyzigzag.com, said:
“I think that before the financial crisis, there was a general shift in homeowners buying decision, as properties and assets continued to rise the fastest in over two decades and buyers were either being priced out and properties were not being sold. The financial crisis had the effect of accelerating this trend – reducing property prices but creating psychological havoc in buyers mind.”
In turn, a certain number did not believe the financial crisis affected them. 15% polled gave a straight ‘no’; 13% answered ‘not really’ and a further 12% said ‘not at all’.
Raya Mamarbachi, Director at Simplyzigzag also adds:
“There is a segment of the market that has not been affected by the financial crisis – mainly people sitting on a lot of cash, foreigners or those that see the housing market as cyclical – for a small number there is no reason not to buy.”
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