House prices 'expected to rise'

The next 12 months are likely to see a rise rather than a fall in house prices, many Britons believe, which may have implications for DIY house selling.

Data from the Halifax Housing Market Confidence Tracker shows that one in three people believe prices will rise, while 23 per cent anticipate a fall in costs.

Half of those polled said they believe the next three months would be a good time to buy, while 14 per cent anticipate the market to be favourable to sellers.

Suren Thiru, housing economist at Halifax, commented: "Confidence in the UK housing market is likely to remain subdued over the coming months, given consumers' concerns over the outlook for the UK economy in general, and the jobs market in particular."

Land Registry figures show that property prices throughout England and Wales have fallen by an average of 1.3 per cent over the past year.

Published on: June 13, 2011

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