Majority of homeowners expecting house prices to rise
Published by Max Salsbury for 24dash.com in Housing
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A massive 89% of UK homeowners are expecting house prices to over the next six months, a recent survey has revealed.
The figure is up from 80% in the last quarter and represents as four-year high.
The survey of 9,140 homeowners by property website Zoopla found that only 4% of homeowners predict house prices will fall over the next six months, down from 7% in Q2 and 17% in Q3 last year.
And property owners are predicting a 5.7% rise in home values in their area between now and March next year, up from 4.8% last quarter and 3.4% in Q3 last year.
The survey also found that there has been a slight decline in the amount of people planning to buy or sell a property over the next six months, falling under one-fifth for the first time in 2013 (19% and 17% respectively).
Zoopla Lawrence Hall said: “While London remains the forerunner in homeowner optimism, confidence in the property market is surging across the whole UK. Confidence is the bedrock for healthy property transactions but it can’t work in isolation. Fortunately, mortgage lending is on the rise, first-time buyers are returning to the market, and the second phase of the Help to Buy scheme should help boost confidence further across the country and not just in London. All of this bodes well for a healthier market and could lead to more and more transactions, which in turn will create a more sustainable market.”