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Homeowners in no rush to sell their homes are turning their properties over to the rental market to avoid selling at a low price during the housing correction, it has been found.
Recent research has found that the housing market is beginning to stabilise, it has been reported, as many factors connected to the buying process are now showing less symptoms of decline.
Housing transactions for 2008 are set to drop 60 per cent lower than the annual rate seen during the UK's last recession in the 1990s, it has been suggested.
The location of a property will make the difference between its price bouncing back to 2007 levels in just three years, or as much as eight years.
Homeowners in the UK are now choosing to let their homes while they wait for the market to return to favour sellers, new research has indicated.