Who won and who lost out in the property market in 2011
The winners:
Those with large equity
Moving out of London or downsizing to weaker market areas.
Families moving to a bigger home
They may have bought before rapid price rises and overpaid their mortgage giving them substantial equity to trade up with. Family homes may have held their value much better than flats.
Overseas investors
Like gold, property is a commodity and when it is in high demand prices increase. London has seen increases of 13% in 2011, a much safer bet than the euorzone.
The Losers:
Buyers who can't rely on 'Bank of Mum & Dad'
The CML say that 83% of first time buyers get help from their parents. The average age of a first-time buyer is 37. For those with parental help the age falls to 29.
Second time buyers trapped in starter flats
These first-time buyers may have bought at the peak of the market and could be 'mortgage prisoners' due to negative equity. They are also unable to benefit from any government initiatives. It is getting harder for them to re mortgage when their current deal ends.
In areas of falling confidence
Those in the Home Counties in particular have seen prices fall by 10% in the country-homes market.