UK Homeowners confident house prices will rise

Posted: 9 October 2012 by Higgins Homes

house prices on the rise

House prices may still be falling, but homeowners in Britain are beginning to show signs of optimism.

According to Zoopla's Housing Market Sentiment Survey, nearly two thirds of the 6,500 homeowners interviewed held the belief that house prices in their area would rise in the next six months. Some were more positive than others however: Londoners being significantly more confident than those in Northern Ireland.

Interestingly enough, it seems that people have more faith in the value of their own homes than their neighbours; the average prediction being around a 3.8% rise in price.

Yet this newfound surge in optimism may simply be down to the time of year. Lawrence Hall from Zoopla told the Independent that late summer and early autumn are busy periods in the housing market, often instilling people with a more hopeful mindset.

The overall lift in people's mood is certainly a step forward though. On the whole, those who took part in the survey predicted local property prices to rise by an average of 3.4% - an improvement on last year's 2.7% prediction, albeit a marginal one.

It is no secret that times have been tough and so any hints at the market taking a turn for the better, no matter how slight, can only be a good thing.

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