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Great expectations for house price growth

by: Paula John
  • 24/04/2012
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Great expectations for house price growth
Confidence in the UK housing market has grown strongly this year, with more people expecting bigger rises in property values than last year.

According to the latest survey published by property website Zoopla, 67% of homeowners questioned in the first quarter of 2012 expect property prices to increase over the next six months.That compares to just 55% at the end of 2011.

Homeowners also now think house prices will grow by more than they did at the end of 2011. At that point, they predicted an average 2.2% rise in their local area, while by the end of March that figure had risen to an average of 3.9%.

In London the picture is even more positive, with confidence levels running at an all-time high. In the capital 82% of homeowners think prices will rise over the next six months, by an average of 5.5%.

Sentiment about mortgage finance is also improving, with 17% of respondents saying they think it is getting easier to access a mortgage, compared to 11% last quarter.

Nicholas Leeming of said: “The property market has been in need of some positive news of late as many indicators have pointed toward stagnant prices. These results show that homeowners now feel a lot more positive than at the end of last year and this confidence could bolster transaction and activity levels as we move further into the year.”


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