Market Research Shows Britons More Upbeat about Property Prices
29th October 2012 16:59 - Housing
According to the recent Halifax Housing Market Confidence survey, Britons are more optimistic about the housing market than a year ago.
More Britons now believe that house prices will rise than fall in the next 12 months – approximately 35% of respondents expect that the average UK house price to increase over the next year, although 66% predict a minimal rise of between plus 5% and minus 5%.
Nevertheless, the average UK house price in September 2012 was 0.3% lower than in December 2011, and 20% of the surveyants predict a decline in property prices during the next year.
Regionally, those living in the South West are the most optimistic about improved housing prices, followed by those living in London. On the other hand, people living in Scotland and the East Midland are the most pessimistic about housing prospects.
When it came to gender differences, men were slightly more optimistic than women, with some 38% of male respondents predicting that house prices nationally will increase in the next 12 months compared with 34% of women.
Furthermore, when asked what they thought were the main obstructions to buying a home, around 58% cited the challenge of raising a hefty deposit, while 51% were concerned about job security. An additional 32% claimed household finances were a barrier to home buying and 31% said it was the lack of suitable mortgages.
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