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Property market 'will see surge of new buyers'

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Pictured at the announcment of the Allsop Space Report which will be published in November was Steve McCarthy, Director, Allsop Space (centre) alongside Economists and journalists Chris Johns (left) and Jim Power (right)

Pictured at the announcment of the Allsop Space Report which will be published in November was Steve McCarthy, Director, Allsop Space (centre) alongside Economists and journalists Chris Johns (left) and Jim Power (right)

Pictured at the announcment of the Allsop Space Report which will be published in November was Steve McCarthy, Director, Allsop Space (centre) alongside Economists and journalists Chris Johns (left) and Jim Power (right)

ALMOST half of all respondents to a new property survey say they plan to buy a new home or office in the next 12 months.

The new poll, carried out by auctioneers Allsop Space, is the first of its kind - as it focuses exclusively on what buyers and those considering entering the market want, and expect to see, in the coming months and years.

Allsop have received submissions from more than 1,300 of their 65,000 registered service users and say the results will provide the "most comprehensive" analysis of the current state of the market as well as what concerns potential buyers and what opportunities they see.

The results of the survey will be released as quarterly reports over the next two years, with the first report due out early next month.

The report will include expert analysis from economists Jim Power and Chris Johns from CJP Economic Consultants, based on the sentiments of respondents to the survey and other economic and market factors.

The responses are still being assessed, but Stephen McCarthy, managing director with Allsop Space, revealed that 46pc of respondents have indicated they will buy a home in the next year.

Mr Power said: "That is particularly high and higher than many would have anticipated. If we were to compare that with a year ago, I think the percentage of people saying they planned to buy within a year would be around 3pc-4pc. It shows confidence is returning to the market," he added.

Chris Johns said: "Because attitudes will be tracked over the course of two years, it will be a very interesting measure of how attitudes are going to change and react to changes within the housing sector."

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