Released on: September 19, 2007, 3:38 am

Press Release Author: Charlotte Burrows

Industry: Real Estate

Press Release Summary: Britons have an \"ingrained desire\" to own their own homes,
but a realistic view of house price expectations, according to a new report on the
state of the housing market.

Press Release Body: The Building Societies Association (BSA) has found that the core
reason for buying a home is the \"ingrained British desire\" of owning their own
property, with 88 per cent of respondents to the survey admitting this was their
motivating factor.

Adrian Coles, director general of the BSA, said: \"Growth in residential property
prices has largely been due to a wide selection of factors including low interest
rates, lack of suitable housing stock, a buoyant economy and the ingrained desire in
the British psyche to own property.\"

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He added that, while some commentators have cautioned that the market may be over
reliant on consumers\' expectations that prices will continue to rise, the report
shows that home buyers have a realistic view of the property market and house price
expectations have not fuelled a price boom.

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