Wed 23 May 2018
Research by Zoopla suggests that homeowners' confidence in the property market is on the rise.
The property website's latest Housing Market Sentiment Survey shows that 84% of homeowners expect their properties to grow in value.
This is up 14% from when the survey of almost 2,000 owners was taken in November last year.
Average expected price growth has also increased to 6.9%, up from 4.9%.
Owners in the East Midlands and the East of England are the most optimistic about the housing market's prospects, with 93% and 90% of respective respondents in these regions expecting the value of their home to rise over the next six months.
The UK's least confident region is the North East where just 63% of those taking part in the survey expect house prices to rise over the next few months.
However, this still represents a regional uplift of 22% from when the survey was last taken.
The study also reveals that 64% of property owners are not planning on spending more on home improvements between now and the end of the year, while 43% are planning to rejuvenate their home in some form during this period.
Less than 7% of those surveyed said they are planning to refinance a mortgage - down from 9% last November.
“It’s encouraging to see a bounce-back in consumer confidence in the market – it’s the largest increase we’ve seen since 2016," says Zoopla spokesperson Lawrence Hall.
By Conor Shilling
Source: Estate Agent Today
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