Date Published 26 April 2012
Britons are becoming increasingly confident in the outlook for the housing market, according to the latest Halifax Housing Market Confidence tracker.
Over 1 in 3 (39%) of respondents predict that house prices nationally will increase over the next year, almost double the proportion that believe house prices will fall (20%).
Martin Ellis, housing economist at Halifax, commented:
"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 just 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 a pronounced weakening."