You are here: Home - Mortgages - Buy To Let - News -

Housing market optimism on the up

0
Written by:
01/06/2012
Britons are becoming increasingly confident in the outlook for the housing market, according to the latest Halifax housing market confidence tracker.

Nearly 40% of respondents predict that house prices nationally will increase over the next year, almost double the proportion that believe house prices will fall, at 20%.

Londoners remain the most confident about the prospects for the housing market, followed by the East, the South West and the South East.

At the other end of the spectrum, those in the North East have the least positive outlook for house prices.

Almost two-thirds of people said they think it is currently a good time to buy property but only 15% believe it is a good time to sell.

The survey also showed that economic uncertainty continues to constrain housing demand as more than half of people said concerns about job security was the main worry facing potential buyers.

Raising enough money for a deposit was the second biggest challenge for 42% of respondents followed by the availability of mortgages for 30%.

More than half of respondents said they expect the cost of renting in the private sector to rise over the next year and only 2% think it will fall.

Martin Ellis, housing economist at Halifax, said: “It is encouraging that the level of consumer confidence in the housing market continues to improve, albeit from a very low base. This is consistent with the broad stability that we have been seeing in house prices nationally in recent months.”

According to the latest Halifax House Price Index, house prices in the first quarter of 2012 were 0.1% lower than the final quarter of 2011.

“There is, however, a substantial north-south divide to the improvement in housing confidence which is reflective of property prices in the South currently more resilient than in the North.

Overall, we continue to expect little overall movement in prices this year provided that the UK economy does not suffer pronounced weakening,” added Ellis.

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
2178804-solar-panels55
Solar panels could impair mortgage arrangements

The Royal Institution for Chartered Surveyors has warned homeowners thinking of installing ‘free’ solar panels that doing so may breach...

Close