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Housing market confidence continues

Housing market confidence continues

Category: Mortgages
Author: Leanne Macardle
Date: 02/03/2017

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 It is now over 6 months old so the content may be out of date.

The vast majority of homeowners remain confident in the state of the house market, despite recent uncertainty following the Brexit vote, with positivity being the order of the day. Is it time to take advantage?

Confident consumers

According to research from Clydesdale and Yorkshire Banks, over 80% of Brits are unfazed by the result of the vote, and said that the UK's plans to leave the EU have had no impact on their property plans. A further nine in 10 believe that the value of their homes will either increase or stay the same over the next year, with only 5% concerned that they'll fall, despite previous fears that Brexit could lead to a sharp fall in prices.

Only those in the capital have been greatly impacted by the vote, with one in three homeowners and buyers in London having changed their plans to buy, sell or stick with their properties since the result was announced. It's a different story in terms of house price expectations, however, with two-thirds of those in the South East anticipating that their homes will increase in value in the next 12 months. This is compared with those in Scotland, with 10% believing that the value of their homes will decrease, twice the national average.

Nonetheless, the general mood is one of positivity, as Helen Page, propositions director at Clydesdale and Yorkshire Banks, said: "It's clear that Brexit has not dampened the optimism of the overwhelming majority of both homeowners and homebuyers, who continue to have confidence in the market and will not be changing their plans."

Make the most of it!

If you're full of positivity about the housing market, why not capitalise on that and start planning your next move? Mortgage rates are still at historically low levels, so now could be a great time to take the plunge. Check out our mortgage Best Buys to get started, and see if you can find the perfect deal to help fund your next move.

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 Any products featured may be withdrawn by their provider or changed at any time.

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