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Housing market optimism grows

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Over 90% of homeowners believe that their property will retain or increase its value over the next 12 months.

According to research conducted by Yorkshire and Clydesdale Banks, that is a jump of 6% on this time last year when 84% said they thought their homes would hold or grow in value.

A quarter (25%) now say they think their home will gain value over the year to come, compared to 18% a year ago.

London homeowners are the most optimistic, with 53% saying the expect their home to go up in value, compared to 14% in the east of England.

Despite the uptick in optimism, most plan to stay put for the next year – 62% have no plans to move house and 22% say they will extend or improve their home during the course of the year.

Of those who do plan to move, finding a decent property at a knockdown price is the prime motivator, with 19% saying that the opportunity to bag a bargain would encourage them to move this year.

For people hoping to move to their dream home, location is still of paramount importance for 80% of people, while noisy neighbours would be the main deterrent with 80% admitting this would put them off buying a property.

Andrew Pearce, retail director for Clydesdale and Yorkshire Banks, said:

“It is encouraging to see confidence returning to the property market with an increase in both those who think the value of their property will stay the same and those that think it will increase from the same period last year.”

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