Public Grows In Confidence Over Housing Market !!

Date Published 25 April 2012

People are growing in confidence about the housing market, two new surveys have claimed. A third survey separately pinpoints growing optimism among first-time buyers.

Halifax said this morning that 39% of respondents to its ‘Housing Market Confidence tracker’ poll believe house prices nationally will increase next year – almost double the proportion that believe they will go down.

A similar poll by property portal Zoopla says that 67% of British home owners expect house prices to rise over the next six months. The average property price across Britain is expected to rise 3.9% between now and October.

The Zoopla poll also says that people are now finding it easier to get a mortgage than at the end of last year, with 17% saying availability has improved. However, in the Halifax poll, 25% think that lack of mortgage availability is a major obstacle to home buying, and 45% think that raising a deposit is a serious problem.

Both the Zoopla and Halifax polls report highest confidence among home owners in London, where house prices are expected to rise by 5.5% in the next six months, according to Zoopla.

The Halifax survey says that most people still think of it as a buyers’ market: 55% think now is a good time to buy, more than double the 24% who believe it is a good time to sell.

The Halifax poll also finds that nearly two-thirds of people (61%) are worried about job security, citing this as the major potential threat to the housing market.

In the third poll, from the Post Office, aspiring first-time buyers were asked about their plans. Of those who plan to buy within the next five years, 14% expect to buy this year, and 22% next year.

Almost half (45%) are confident of being able to fund the deposit themselves by saving up, while 16% will get help from their parents and the same proportion plan to use the Government’s FirstBuy scheme.