Housing Market Research Suggests Renewed Confidence

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1st November 2013 12:29 - Housing

Confidence in the housing market returns as new research carried out by Halifax reveals that seven in ten Britons think house prices will rise in the next few months. Almost 2,000 people took part in the research in September in which seventy per cent expect to see prices increase over the next year. Only sixteen per cent believe they will fall. This signals the most positive findings since the research began in summer 2011. The report coincides with the government’s ‘Help to Buy’ scheme which gives home buyers with deposits as low at 5% a helping hand.

Major lenders including NatWest and Halifax have also announced plans to offer deals under the scheme which is likely to come into effect in the coming months.

However the research did uncover that although the housing market was expected to grow, only forty one per cent of those taking part in the study think it would be a good time to sell a home in the next 12 months, compared to a bigger proportion (57%) who deem it a good time to buy.  The indication is that there could be a short fall of properties coming on to the market; this would have a knock-on effect on prices going up as the demand from would-be buyers continued to surge.

The research goes on to say that people in the South East (13%) think it would be a good time to sell, while those in Scotland, the North West and the East Midland are the least positive about selling their homes in the next 12 months.  Those in the East of the country are the most cautious with just forty per cent believing it would be a good time to buy.

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