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Housing market confidence rallies

Housing market confidence rallies

Category: Mortgages

Updated: 05/01/2010
First Published: 05/01/2010

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 It is now over 6 months old so the content may be out of date.

Public confidence in the housing market appears to be rallying, with four in five homeowners believing that property values will rise during the first six months of 2010.

It represents a marked turnaround in sentiment from 12 months ago, when just one in five homeowners professed to being optimistic about the outlook for house prices, according to by Zoopla.co.uk.

Eighty one per cent of respondents said they expected home values to register an increase over the next six months. By contrast, just ten per cent anticipated property prices would fall over this period.

"This time last year, confidence in the property market was at rock bottom and the outlook was bleak," said Nicholas Leeming, commercial director for the website.

"But a year is a long time in the housing market and, whilst the recovery is still in its infancy, optimism is now back to levels not seen since the credit crunch began in 2007."

Homeowners are confident that their properties will benefit from an increase in the coming months, with an average growth of 5.7 per cent expected.

However, the trend of improving sentiment does not extend to mortgage funding. Three quarters of respondents said it is no easier to get a mortgage now than it was three months ago.

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