Research shows UK people confident property value will rise

February 13, 2016 by Brendan O'Neill

House Prices

According to a recently released study, the majority of people in the UK remain confident that the property market will continue to thrive. This is despite concerns about the UK economy overall.

The most recent Halifax Housing https://www.beaconfinancialtraining.co.uk/wp-content/uploads/2020/06/cemap-online-and-classroom-training-uk.jpget Confidence Tracker indicated that although confidence has dropped steadily since May 2015, most people believe that property will have gained in value during the next year, while 13% think that property values will have increased by 10%.

Results in the Halifax house optimism index indicate that there had been a fall in optimism since May 2015, with +61 in comparison to the previous figure of +68. However, the outlook for the UK’s economy during the next 12 months wasn’t as optimistic, falling to -1, compared to May’s result of +26.

The mortgage director at the Halifax, Craig McKinley, believes that the property market will be strong during the next year. He stated that low mortgage rates, increases in wages and economic growth would all result in a strong housing market. He added that there continued to be a shortage of housing supply, which would cause properties to rapidly rise in price.

The research revealed that finding a deposit is still the main setback for those wanting to buy a home. More than half of participants in the study stated that this was a problem. Mortgage advisers are required to take CeMAP training so that they are qualified to help individuals find the most suitable mortgage for them.