How will the housing market shape-up in 2013? Property expert Rightmove shares its predictions for the year ahead.
At the end of each year, Rightmove puts together a forecast for how the property market looks set to shape-up over the year ahead.
For 2013 we are forecasting that overall UK average asking prices will rise by 2 per cent supported by stronger house price performance in the southern regions.
Whether you're a first-time buyer, renter, or a seller, here's how 2013 is expected to shape-up property-wise.
First-time buyers
First-time buyers will make up around 25 per cent of all purchasers over the next 12 months.
This is slightly up on the 23 per cent recorded at the start of 2012, but still significantly down on the 40 per cent that was typical pre credit crunch.
Raising a deposit remains the most common single biggest concern among first-time buyers.
Finding a property to buy is also an increasing issue as the number of suitable properties on the first rung of the housing ladder is down by 5 per cent, largely due to the inability of "second-steppers" to trade up.
For that reason first-time buyers are casting their net wider in searching for a new home, with more than half expecting to buy more than three miles away from where they currently live.
Renters
Only one in four existing landlords intend to put their rents up in 2013, and of those only around a third plan a rise of more than 5 per cent, according to Rightmove's latest Rental Forecast report.
This may come as some respite for tenants as average rental prices have increased by 13.6 per cent since 2009 as demand continues to outstrip supply in the private rented sector.
More than a fifth of tenants are spending more than half their take-home pay on rent.
If you are currently renting, the chances are that you would prefer to get on the property ladder but can't afford to do so.
Rightmove has identified that 59 per cent of current tenants are in this position.
Sellers
A continuing shortage of desirable property coming to market in all price sectors will remain a theme in 2013.
With many potential sellers still unable to raise the necessary equity to trade up, their desirable homes will remain off the market.
This is especially true of first-time sellers.
This will create an opportunity for those well-finished property examples that do come to market, as many buyers have little spare cash and so are favouring properties that require little or no improvement on moving in.
Visit Rightmove.co.uk for further information on your local housing market.
