This comes despite the cycles of house price booms and busts over hundreds of years – with high-profile coverage of falls in many places in the aftermath of the global financial crisis a recent reminder.
The third annual Homes and Mortgages survey has many other insights including:
People want a house close to the shops and transport – not a spot that’s in vogue Asked what is most important when choosing where to live, close proximity to facilities is number one. A fashionable location didn’t even make the top five. Day-to-day convenience trumps a chic postcode.
Most are happy with the time it takes to commute London came out as the survey’s “commuting capital” – travelling about 45 minutes on average – but even there the majority of people who travel to work or study are happy with the time it takes. Perhaps given London’s expanse, commuters expect to have to take some time getting around.
Owners love to own from a financial point of view but renters are not so sure Overall, people in Europe tend to agree that “from a financial point of view, it is better to own a house than to rent”. However, owners are much more likely than renters to agree – suggesting that some renters at least may be making a financial decision to rent rather than buy.
“House price” optimism is on the rise In most countries in the survey, people are becoming increasingly optimistic that house prices will rise over the next 12 month. The biggest increases are in the Netherlands and Spain, while the United Kingdom, Luxembourg and Turkey have the highest shares thinking this will be the case.
For more, read the full survey here.
This article is related to the ING International Survey: