The British are optimistic about growth in property prices

The vast majority of owners of houses or flats in England or Wales are confident that property prices will continue to rise, however, people looking to sell or buy a property in the next six months, became less. More than 87% of people, according to the sentiment index of the largest real estate portal Zoppla confident about the growth of prices in the next 6 months, that’s 4% more than in October 2016, but is 92% lower than a year earlier. The data also show that only 18% of respondents plan to buy property in the next six months, which is 7% less than in October 2016, and wanting to sell decreased over the six months by 6% to 17%.

By regions, the highest consumer confidence in the East of England, where the conviction of the people concerning the price growth in 89% of the respondents, followed by East Midlands with confidence 88%. Homeowners in the East Midlands are also the most optimistic rates of rising prices, expecting 10% increase in prices for residential property in the region, followed by London, where, according to the moods of homeowners expected the price increase to 9.9% , then the East of England with prices rising 8.1 per cent.

The owners of houses and apartments Wales and the North East of England the least optimistic about growth in housing prices, however, 68% and 69% respectively expect prices to rise in these regions. In the North-West of England very modest expectations of price growth only 5.9% , which is almost two times less than in the previous year.

On the other hand, has increased the confidence of people regarding the approval of mortgage lending. Only 29% of people believe they can experience difficulties applying for a mortgage.

Despite the fact that in the political arena, the UK is still a period of uncertainty, the data from Zoopla look exciting. At the same time, it is impossible not to consider that ahead of the General elections on 8 June, many potential buyers and sellers try to refrain from the transaction, waiting for the outcome of the elections.

® Alice Morgan. 12.05.2017 G.

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