According to research by the promoter of independent financial advice, IFA Promotions, 23% of homeowners have had their property valued and almost 70% have made improvements to push the value of their homes up.
The only thing is, none of these people actually put their properties on the market for sale! The general consensus of opinion is that with house prices moving so rapidly over the last few years, many homeowners are curious as to just how much equity is in their properties.
Our View
Homeowners have never had it so good but the bubble could be about to burst. Whilst property values have risen consistently, people have borrowed against the increased value to either buy second properties or spend the money elsewhere. If property prices start to fall, the negative equity trap will be on us again.