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UK: Older ‘downsizers’ kickstart property market in 2013

Posted on 19 February 2013

Figures from property website Rightmove.co.uk show the average asking price is now £235,741, up from £229,429 in January. The figure is just £2,115 shy of the post-financial crisis record set in February 2008. Property ‘old hands’ are fuelling the increase in price, with 71% of people who intend to sell in 2013 being over the age of 45. Half of those planning to buy this year will do so for at least the third time.
The two most active age ranges in the market are the 45 to 54 bracket, who make up 25% of those planning to sell this year, and the 55 to 64-year-olds, who make up 30% of the total sellers…………………………………….Full Article: Source

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