Women not shaken by falling house prices

by MoneyDoctor Thursday 28 August, 2008

blog_hospital Apparently women are braver than men as house prices fall!

Falling house prices have not deterred 75% of us from buying a property, says money website Fool.co.uk.

But while men show greater hesitancy to dip their toes in the property market now, the women are not put off.

  • Fearless Females

Women are noticeably braver than men as house prices drop. More than 8 out of 10 women will consider buying a house in the current economic downturn. That compares with a third of men who are reluctant to act at the moment.

The caution shown by men is largely reflected across the country. Buying a property in an uncertain market is tough, and 1 in 4 of us want to wait and see before committing ourselves.

  • Gutsy Gaels

However, 84% of Scots and 80% of you in Wales think that market conditions are irrelevant.

The same cannot be said of people in the South West, where only 68% of you are tempted to buy in the falling market.

Those of you living in the West Midlands are also reluctant to buy right now with almost 30% happy to sit on the sidelines.

David Kuo, Head of Personal Finance at Fool.co.uk, says:

Nobody wants to lose money, especially when they are buying something as important and expensive as a house.

“But trying to predict the bottom of the property market is a mug’s game. It is more important to decide if the house you want to buy is right for you, and if you can comfortably afford to meet the mortgage repayments.

If you are concerned about negative equity, then the best remedy is to increase the size of your deposit or to step up your monthly mortgage repayments.

Tea leaves are unreliable at the best of times. So rather than wasting your time reading the contents at the bottom of your cup, spend time trawling through mortgage best-buy tables instead.

So, what do you think of Fool’s findings? Are women braver than men when it comes to the property market?

Why not let us know?

© Fool.co.uk 2008

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Comments

Stephanie says:

Sunday 31 August, 2008 / 11:05

I am a woman.
I think men have generally more debts/borrowings than women. Therefore, they would have more reservation than women considering entering an unstable housing market, given that they might have more to lose...
Also, women are more likely to want to have their own home one day than men, because men might feel it is more appealing for them to be flexible and autonomous forever and would buy a house more as an investment in the first place rather than a place to call home.
In short, men buy to invest, women buy to have a home. At the moment only the financial side of things is a bugger. Therefore, men stay put while women only care about getting a home whatever it might take.

Lily says:

Monday 01 September, 2008 / 12:52

I find Stephanie's comments rather an old fashioned view, plenty of women now buy for investment. I believe that it is only familys that want to buy for "a home" now as they want a stable home for their children.

Garry Ullah says:

Monday 01 September, 2008 / 16:17

It is not as important to me as it is for my wife.I think we all understand that the market will eventally strenghen and if you buy while prices are depressed you are more likley to get hold of a nice home at a really good price or purchase a good long term investment.

Tom says:

Tuesday 02 September, 2008 / 07:56

I'm not sure I agree with Stephanie, maybe because I'm not a woman!!

If women are more likely than men to buy in a falling market, then they are less likely to end up with the home they desire.

Buying a home is the sensible thing to do, but only at the right price.

andrea says:

Tuesday 02 September, 2008 / 17:49

as i female i also don't agree with stephanie , a home is important but i also have investment properties , now is a fine time to buy if you have a good knowledge of the market & get the right price , the rental market in my area is strong. likewise the current market wouldn't put me off trading up , the higher priced properties seem to be taking a bigger price hit & longer to sell than the lower end of the market , great if you can afford to trade up in my opinion! but likewise if you want to trade down the saving in future mortgage interest will probably cover the price drop on the house you sell !

Shanice says:

Saturday 06 September, 2008 / 02:48

Garry says the market will eventually strenghten, but the question is will it weaken further first. Whether you are male or female, and whatever your reason for buying a property, no one wants to end up in negative equity.

As a woman I would love to buy my first home, but I am not prepared to take a gamble with the market as it is. My partner feels the same.

As Tom says it is important to buy at the right price, something I think both men and women are ignoring.

Paul Cheo says:

Tuesday 16 September, 2008 / 16:57

It is true women can't be much bothered. If things become hard women can turn to a man but a man has no where to go.

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