A positive property market - Mortgages - News - Moneyfacts


Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

A positive property market

A positive property market

Category: Mortgages

Updated: 29/01/2016
First Published: 29/01/2016

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 It is now over 6 months old so the content may be out of date.

New research from Clydesdale and Yorkshire Banks has highlighted the continued confidence in the UK property market, with half of homeowners surveyed predicting that the value of their property will increase over the next 12 months.

This underlines the stability and levelling out of the market, according to the banks' annual Housebuyers Research, with the figures showing that confidence has doubled since 2013 (when only 25% of homeowners anticipated a price increase) and is only 4% below the figure recorded a year ago (54%).

Not only that, but a mere 2% expect their home to decrease in value over the year ahead – the same as a year ago and well below the 9% who thought the same in 2013 – with the remaining proportion of respondents anticipating that there won't be any change.

Perhaps unsurprisingly, those living in London are the most confident in future price rises, with 73% of respondents in the capital thinking that prices will escalate in the year ahead, with absolutely no-one predicting a downturn. This was followed by homeowners in the South East (64% predicted a price rise) and East (38%).

"There have been great changes within our property market and our latest research shows a sustained level of confidence in property values over the past three years," commented Steve Fletcher, director of Retail Banking at Clydesdale and Yorkshire Banks.

"There are a number of different factors which have played their part in the ongoing recovery of the property market. The Bank of England base rate has remained low and there has been steady growth in property prices, and this has been reflected with sustained confidence of UK homeowners."

What next?

Take advantage of the positive market by finding the right mortgage

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Homemover numbers fall for first time since 2011

The mortgage market enjoyed a record year in 2016, so it may come as a surprise to hear that the number of people moving home has fallen for the first time in five years, with fewer apparently taking advantage of the market.

2016: the best year for remortgaging since 2009

Remortgaging has certainly seen a surge in activity of late, helped in no small part by the dramatic drop in mortgage rates over the last year, so much so that 2016 as a whole proved to be the best year for the sector since 2009.

Homeowners underestimate remortgaging savings

Remortgaging has been enjoying a surge in popularity in recent months, and considering how much you could save, it’s a no-brainer! Unfortunately, many fail to realise the extent of potential savings, which could mean too few make the switch.