Consumer confidence in the UK property market seems to be increasing, in spite of current economic instability.
It has been reported that 59% of home owners expect to see a rise in value in their area. Over the next twelve months, expectant owners believe there will be a rise of at least 2.7%, with a 3.3% increase in the value of their property. Those who anticipate a fall in prices appear to be in the minority, with only 22% bracing themselves for a drop in value in their own home.
These figures, arising from the Housing Market Sentiment Survey by Zoopla.co.uk, indicate that confidence is up from 57% three months ago. Encouraging news from the lending market, which indicated strong lending growth at the end of the summer, has bolstered consumer confidence.
Northern Ireland has seen the greatest upsurge, with 54% of owners expecting that the next six months will bring a rise in value.
UK Owners Expect a 3% House Price Rise - Expess.co.uk