Only five per cent of Brits expected house prices to drop during quarter three of 2015, according to the Halifax Housing Confidence Tracker.

During the third quarter of 2015, just under 70 per cent of people surveyed believe that house values will increase over the next year. More than half think that the next year would be a good time to buy a property, while 52 per cent think that putting their home on the market would be a good idea during this period. These figures have fallen since the last survey in quarter two of the year. More people in London believe it is a good time to place their property on the market.

According to the mortgage director of the Halifax, Craig McKinley, the price of houses have continued to rise, despite the slight tailing off of economic optimism during the last quarter. Although a higher number expect the interest rates to rise during the next 12 months, people still seem to expect the house prices to continue to rise.

A couple of the reasons for the higher house values include a shortage of second hand homes up for sale and the high number of mortgage products that have low interest rates. If more second hand properties don’t appear on the market, it is possible that house price growth may well become robust. As house prices rise, it may become more difficult for borrowers to secure a mortgage, which is why more mortgage advisers are studying on a CeMAP course in London, Liverpool and other cities in the UK.

Leave a Reply

Your email address will not be published.