The credibility of the UK property market rose to its highest level in four years. The vast majority of homeowners in the UK predict that prices will grow at least by 7.2% for the summer.
Just three months ago forecast for the first half of 2014 was 5.7%. This improvement in sentiment certainly speaks of a serious confidence in the market.
7796 homeowners polled the largest real estate portal Zoopla and it was found that 92% of homeowners expect price growth on houses and apartments in their area in the next 6 months. The growth of positive people was 65% compared to last year.
The most optimistic are Londoners – 98% of Londoners think that the price of residential property in London will increase during the first half of 2014, forecasting a price increase of about 9.6% during this period.
Positive sentiments are observed throughout the UK, the most significant jump recorded in the North, in Yorkshire, the Humber and the North West of the UK, where the share of those who believe that real estate will rise in price, increased from 54% to 88% over the past three months.
On the other side of Wales, where the least homeowners predict growth in property prices by June – but the number of such people is impressive – 85% of the people of Wales believe that prices for houses and apartments in Wales will grow.
Across the UK the new year 2014 has started with a positive sentiment regarding the recovery of the real estate market. The so-called early market indicators suggest that the real estate market in the UK will be very tense the first few months of 2014, as a very high level of confidence of the market will spur the number of transactions and the warm market.
If growth in the real estate market in 2013 was driven by government initiatives that their programs tried to entice the buyers market with a small income, then 2014 promises us the natural level of activity that would be caused by the real active movement in the market.
® Maxim Savitsky. 18.01.2013.
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