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East and North East of England expect house price rise in 2014

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Britons living in the East of England and the North East are increasingly optimistic that house prices in their regions will rise over the next 12 months, results from a Countrywide survey have shown.

In 2012, 29% of people surveyed in the East of England said they expected the price of their homes to rise in 2013 while 19% of those living in the North East shared the sentiment.

The latest survey has shown that expectations of house price increases for 2014 have risen sharply to 61% and 44% respectively in these regions.

Overall 51% of homeowners surveyed said they believed the value of their current home would increase in 12 months’ time, an increase of 17% from the November 2012 survey results.

A higher proportion (67%) of homeowners living in London, expect the value of their homes to increase in 12 months’ time when compared to any other region in Great Britain.

Grenville Turner, chief executive of Countrywide, said: “The survey findings reaffirm what our property experts’ view on a daily basis when dealing with many people looking to move home. 

“There are signs of a rebalance in the housing market as recovery in housing volumes gathers momentum.

“Greater availability of higher loan-to-value mortgages, improving economic conditions, lower unemployment and the implementation of government-backed schemes such as Help to Buy have given consumers reasons to feel confident.”

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