23 May 23.05.2018 UK house price rises
23.05.2018 UK house price rises
According to new analysis by Zoopla more than 8 in 10 homeowners expect house prices in their area to grow in value – a 14% rise since the last housing market sentiment survey in November. Many people in the UK expect an average property price rises of 6.9% in their area over the next half a year.
Brits in the East of England and the East Midlands were ranked as being most optimistic about their local property markets, with 93% and 90% of respondents respectively expecting house price rises over the next 6 months.
The South West was ranked the third most optimistic region with 89% of homeowners in that region expecting a rise in their area’s property values.
The residents of North East England were less confident, with 63 % expecting property price rises. Those in London was also less confident than those in many UK regions, however, 76 % of people living in the capital still expect property values to rise in their area over the next 6 months.
The rate at which homeowners forecasted local house prices to rise by, had also increased across the regions. Those in the West Midlands ranked most confident with homeowners in the area anticipating properties to rise in value by 10.6% over the next 6 months. Scottish homeowners were expected the second steepest increase in house prices, forecasting an average 9.2% rise in property values.
The lowest house price growth expectations were from among those in the North East of England, where homeowners anticipated a 2.6% rise.
The regions most and least confident in the property market are as follows:
Zoopla’s sentiment survey, which had 2,466 respondents, showed that whilst there has been a rise in confidence, the majority of homeowners are still not planning to spend more money on home improvements over the next six months.