Homeowners feel ''trapped'' by their property
Published: 2 June 2008
By MoneyhighStreet Staff Leave a Comment
Updated: 30 November -0001
Almost half of British homeowners feel constricted by their property, new research has indicated.
According to a study conducted by comparison website Gocompare.com, 44 per cent of 1,000 people questioned said that they don''t feel able to move home as a result of their current financial situation.
In addition, the research showed that just 14 per cent of respondents plan to move in the next three years.
What''s more, the study also revealed regional variation, with 36 per cent of respondents from Nottingham admitting to feeling trapped in their homes compared to 14 per cent in Belfast.
It also showed that 34 per cent of those questioned in Cardiff said they still plan to move compared to just six per cent of those from Norwich.
Hayley Parsons, chief executive of Gocompare.com said: "This research shows just how hard the economic downturn is biting. A huge number of UK homeowners are worried about their financial situation and so feel trapped in their homes.
"It''s never been more important to save money wherever you can and shopping around for your home and car insurance could save you hundreds of pounds a year in a matter of minutes."