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45% believe house prices will rise over next year

45% believe house prices will rise over next year

Category: Mortgages

Updated: 11/04/2013
First Published: 11/04/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

A survey by Halifax has uncovered a renewed sense of optimism in the housing market, with nearly half of people anticipating an increase in house prices over the forthcoming year.

Results from the lender's Housing Market Confidence tracker for the first quarter of 2013 found 55% consider it to be a buyer's market at present, regarding this year as a prime time to purchase a property.

Despite a generally positive outlook, many potential buyers (57%) are continuing to struggle with raising adequate funds for a deposit, whilst 58% expressed concerns over employment security.

Over 20% feel it is a good time to sell a home, up by 13% from December 2012.

Respondents residing in London expressed the most optimistic attitudes to selling (32%), compared to just 9% of people surveyed in Scotland.

Commenting on the survey's findings, Martin Ellis, housing economist at Halifax, said: "There has been much more optimism about the prospects for the housing market over the past few months, particularly as the recent UK budget announced big plans for housing, and this seems to be reflected in the attitudes of the respondents.

"Sentiment regarding the outlook for house prices has improved markedly over the past quarter. This is likely to reflect the modest improvement in house prices nationally over recent months."

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