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."
Search all mortgages Mortgage repayment calculator How much can you borrow calculator Mortgage terminology jargon buster
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 Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.