While the sentiment index that the price of homes will rise further has declined, only the youth alone are maintaining the upward prospects. In general, the forecast that house prices will rise is high among the elderly, but it is an unusual phenomenon that the number is higher than the average among the young.
According to the Bank of Korea on the 28th, in the January consumer trend survey, the housing price outlook index was 130, down 2 points from the previous month. An index greater than 100 means that there are more positive answers to the question than negative answers.
In the case of the housing price forecast, it asks about the price of the house one year later compared to the present. For this reason, there are many prospects that house prices will increase further, reflecting the increase in inflation, and the extent is weaker than a month ago. This can be interpreted as a result of the recent government proclaiming measures to supply large-scale real estate and the spread of `house price bubble sentiment.
The overall figure was lowered, but the results were mixed by age group.
In this survey, the housing price outlook index for young people under the age of 40 was 137. Three times, from August (131), November (136), and December (137) of last year, the home price forecast index for this age group broke a record high and maintained its highest level until January.
This outlook of youth is quite different from that of other age groups.
The housing price forecast index for those in their 40s fell from 129 in December of last year to 128 in January, and in the same period, those in their 50s fell from 130 to 125. The 60s also fell from 132 to 128, and the elderly aged 70 and over also fell from 135 to 133.
An official from the BOK said, “Recently, the sale of young people’s’young chil’ (attracting the soul) can be seen as a result of the expectation that the house price will increase further.”
The survey was conducted on 2363 households in cities across the country on the 11th to 18th.
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