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Homeowners confident at price increases

Homeowners confident at price increases

Category: Mortgages

Updated: 30/04/2013
First Published: 30/04/2013

MONEYFACTS ARCHIVE
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 It is now over 6 months old so the content may be out of date.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 much-needed air of optimism appears to be returning to the housing market, as a new study shows over 90% of homeowners believe their home is worth either the same or more than its original purchase value.

According to the Clydesdale and Yorkshire Banks, a quarter of people are confident that property prices will increase over the next twelve months compared with 18% of respondents in March last year.

Despite the renewed confidence, 66% of people stated that they would not be moving home any time soon, whilst 22% plan to make improvements to their existing home over the next twelve months.

Separate figures from the Land Registry revealed a 0.9% annual rise to the average house price during March 2013, with a typical home in England and Wales now standing at £161,793.

Retail Director for Clydesdale and Yorkshire Banks, Andrew Pearce, said: "It is encouraging to see confidence returning to the property market with an increase in both those who think the value of their property will stay the same and those that think it will increase from the same period last year."

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