When the new costco can’t fix its pricing, can it find a way to work?
A new report from consultancy firm KPMG reveals that the costco is in a precarious position, with one-third of the customer base in the UK not yet in a costco.
The firm, which provides financial services to banks, is conducting a nationwide survey of nearly 1,000 UK consumers and finds that more than half of UK consumers are in the market for a new home.
However, despite this, there is one significant risk in the report: consumers will not find a costcom, even when they do have a home in the country.
The survey also found that many consumers would prefer to pay for their own property, rather than paying for a property that they do not own.
“The consumer preference for a house is strong, with nearly three-quarters of respondents preferring to own their own home, compared to just under half in 2017,” said the report.
The KPMS report, called ‘Costcom UK: Homeownership and Property Prices’, also found an even stronger preference for ownership, with 79 per cent of consumers preferring to rent a property over owning one.
“When you look at the consumer preferences in the survey, there’s a very strong preference for owning, and most consumers have a long-term view about owning their own homes, said Matthew Dukes, senior vice president at KPMB.
The report says that, in the future, the average UK home owner will have to take out a mortgage to pay off the interest on their mortgage and it is estimated that that will cost an average of £5,500.
However there is no clear solution yet.
The company says that while the UK is one of the most expensive places in the world for owning a home, the country has some of the lowest mortgage interest rates.KPMG, which is the UK’s largest market research firm, said that it is difficult to find a clear answer on how to address the lack of a price for a home.”
It’s difficult to say exactly how to fix the situation, given that there are no clear solutions yet, but the most effective approach is to make sure there is a competitive marketplace where consumers can buy their home,” Dukes said.”
Consumers will have different views on what they would like to do with their homes.
We would be interested to hear from consumers on what their experiences are.