Investment Property News - Bueno Investments Limited

Nearly one in four young homeowners are worried that falling property prices will see them stuck with negative equity on their homes, a financial website said.

About 23% of people aged between 24 and 34 said they are worried about owing more on their home than it is worth, and 16% admitted to making regular inquiries about their property's value during the past three months, according to financial website Fool.co.uk.

Just over half of young homeowners surveyed said they planned to ride out the current housing market downturn, and 13% said they have cancelled plans to move until the outlook is clearer.

But 13% of young people who had not previously planned to buy a home said they are now considering doing so in a bid to take advantage of the current state of the market.

David Kuo, head of personal finance at Fool.co.uk, said: "Young people who have not experienced previous recessions are understandably worried about the property market. They include both those who have just bought their first house and those who want to get on the ladder, but whose hopes are being dashed by over-cautious lenders.

Copyright © PA Business 2008

http://www.buenoinvestments.com/uk_property_investment.php (UK Property)

http://www.fool.co.uk (Fool.co.uk)