Property prices expected to rise: Rightmove

Property prices expected to rise: Rightmove

Confidence in the housing market has continued to improve, after Rightmove revealed more than half of home movers expect house prices to be higher in 12 months time.

Around 54% think the cost of property will increase during the coming year, with 7% thinking prices will be at least 10% higher, while only 11% think they will be lower.

People are less confident that conditions for buyers will be better in 12 months' time, with only 25% thinking they will have improved, while 22% think they will be worse and half think they will be the same.

The current imbalance between supply and demand looks set to continue, with 68% of people thinking now is a good time to buy a home, but only 5% thinking it is a good time to sell one.

Only 5% of sellers believe now to be a good time to sell, despite over 68% of people believing it is currently a good time to buy.

Miles Shipside, commercial director at Rightmove, said: "Those surveyed may feel that prices will increase, but that does not necessarily mean they are willing or able to purchase themselves, especially given the tight lending criteria required to access the best rates."