Homeowner confidence up

According to a survey by Zoopla homeowners feel more confident about the property market than they did this time last year.

Zoopla’s Housing Market Sentiment Survey indicated 63% of homeowners believe that house prices in their area will rise over the next six months, up from 59% at this time last year.

Only 21% homeowners expect property prices to fall during the next six months, down from 26% last year.

The level of improvement expected has also increased with an average price rise of 3.4% expected. This figure was 2.7% last year.

London’s homeowners are the most optimistic about the state of the British property market.

82% of owners in the capital believe prices will rise in their area over the next six months with average growth of 4.7% expected over this period.

Lawrence Hall of Zoopla.co.uk said: “Late summer and early autumn are busy periods for the property market which can lead to a boost in homeowner confidence.

“The fact that optimism is up compared to last year is a good sign, however, confidence levels remain well below the levels seen in late 2009 and early 2010.”

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