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Homeowners expect house prices to climb, claims survey

Summary

British homeowners are expecting house prices to climb over the next six months as confidence hits a high in the first quarter of 2012.

Our Solution

British homeowners are expecting house prices to climb over the next six months as confidence hits a high in the first quarter of 2012. According to the latest Zoopla Housing Market Sentiment Survey, just over two out of three (67 per cent) British homeowners are quietly confident that house prices will rise by the autumn. Not since the first half of 2010 have figures regarding confidence been so high, reports myintroducer.com, and it marks a complete turnaround from the end of 2011 where only 55 per cent of owners predicted prices would climb. The upcoming summer season could be the catalyst for increased confidence, especially if people begin to construct luxury garden buildings in their back garden in order to soak up the sun's rays, thus adding to their property's value. In addition, owners expect prices in their local area to rise by 3.9 per cent, a significant increase on the 2.2 per cent reported at the end of 2011. Nicholas Leeming, a representative of Zoopla, commented on this new found confidence to mortgagesolutions.co.uk: "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," he added.

Author:

Ashley Curtis

24th April 2012