Homeowners expecting price rises

According to research from property website Zoopla.co.uk, UK homeowners are expecting house prices to rise by 4.5% over the next six months.

This marks the biggest predicted house rise in the UK during the last three years, so will it translate to being the biggest year for the market?

74% of homeowners think that house prices will increase this year, up from 65% in December.

Only 13% of owners expect prices to fall over the course of the next six months, down from 19% at the end of last year.

89% of London homeowners predict prices to rise by the end of summer making them the most confident property owners in the UK.

Lawrence Hall of Zoopla.co.uk said: “The housing market has seen a number of positive events in recent weeks including the Budget and growing confidence from homeowners is a significant step towards a recovery.

“With first-time buyer lending gradually increasing and mortgages becoming more readily available, there is real belief that the property market is starting to turn a corner and finally drag itself out of the hole since the financial crisis.”

Today's Conveyancer