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Eight out of 10 predict a rise in house prices where they live

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11/06/2019
Bullish Brits forecast a 5% increase in property prices in the next six months, as confidence returns to the housing market
Eight out of 10 predict a rise in house prices where they live

Homeowner confidence remains strong despite slowing house price growth, according to Zoopla.

The property portal found that 81 per cent of hmeowners now expect house prices in their area to grow in value over the next six months, by an average 4.8%.

The most optimistic about the property market where they live are those in Yorkshire and Humber and the North West, with 91 per cent of respondents in both areas confident that house price will rise over the next six months.

Scotland is the third most optimistic region, with 90 per cent of homeowners expecting an increase.

At the other end of the scale, London is the least confident region, with only 67 per cent expecting rises. The South East and the North East are the second and third least confident regions, with 74 per cent and 78 per cent anticipating increases respectively.

Laura Howard, spokesperson for Zoopla, said: “Despite evidence of a slowing housing market and ongoing political uncertainty, homeowners remain optimistic about the future of property prices.

“Whether or not these forecasts prevail, consumer sentiment plays a crucial role in the health of the housing market. A feeling of stability means buyers are more likely to start actively looking for their next home, confident that now is the right time to make a purchase. And, in turn, an active pool of buyers will encourage sellers to list their homes for sale.

“This not only brings buoyancy to the housing market, but also offers an opportunity for agents. Vendors fuelled with optimism for house price growth will need to listen carefully to the advice of their estate agents when looking to sell their homes, relying on agent’s local market expertise and experience to accurately price their properties. Consumer positivity must be channelled to ensure that pricing is correct from the outset, this is vital for a swift sale at a price that’s as near to asking as possible.”

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