Majority of Brits expect property price increases

May 18, 2017 by Brendan

House Prices

According to a recent report produced by Zoopla, British home owners are feeling confident about the property market, with 90% expecting house prices to rise.

The survey found that most home owners expect the price of their property to rise during the next six months. However, the ‘housing market sentiment survey’ produced by Zoopla, indicates that only 18% of Brits have the intention of buying a property during the coming six months, which is 7% less than October last year.

Confidence is high in the East of England, with 89% of respondents believing that house prices will rise in that area, while just 68% of home owners in Wales are expecting property values to rise. A spokesperson for Zoopla, Lawrence Hall, said that is was positive news that home owners have confidence in the property market, despite the recent economic uncertainty.

He added that although this was encouraging, they still had to take notice that more people are reluctant to buy or sell a property. Hall stated that it was unsurprising that some may prefer to wait until after the general election on 8th June before making a decision.

Although the survey had revealed increased confidence in the property market, it also indicated that fewer people were planning to buy or sell before Christmas. Respondents stated that they thought that it would be easier to obtain a mortgage than it had been a year ago. Despite this belief, buyers may benefit from the advice of a CeMAP qualified mortgage adviser, to ensure they get the very best deal.