People 'don't want to climb property ladder'

There is currently less desire among people in the UK to climb the property ladder than in the past, a housing expert has claimed.

George Clarke believes that the credit crunch is behind this new reluctance to buy new homes as people have less spare money to invest.

The presenter of Build A New Life and The Home Show indicated that not wanting to "keep up with the Jones'" by purchasing property is a positive step.

Landlords could benefit from the lack of enthusiasm for buying as more people look to become tenants.

Mr Clarke said: "If you want to move house these days it's quite expensive - you pay stamp duty, you pay legal fees.

"For me, the only good thing to come out of the credit crunch is its made people stop wanting to climb the property ladder."

A new property series called Restoration Man is set to be presented by Mr Clarke.

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