Housing market rising sharply
Published by Daniel Jones
The housing market in the UK appears to be on an upward curve at the moment, with the latest statistics on the subject showing people have become more confident about the value of their homes.
Halifax's Housing Market Confidence tracker shows a more promising picture has started to emerge in the last three months. It noted that its House Price Outlook balance stood at +40 in June, with this figure revealing the difference between the proportion of people who expect house prices to rise as opposed to fall.
In the previous quarter, this number was just +33, showing the three months to June were a good one for the housing market and those who are already on the ladder. The +40 reading was actually the highest measure since the tracker was first published in April 2011.
Martin Ellis, housing economist at Halifax, said: "Sentiment regarding the outlook for house prices has improved markedly over the past quarter, continuing the trend seen since late 2012. This increase in optimism is partly due to house prices being stronger than expected in the first half of the year. We continue to see a clear north / south divide with significantly higher proportions of people expecting prices to rise in the south than elsewhere in the UK."
In total, more than half (52 per cent) of all the adults questioned by Halifax said they think house prices are likely to rise over the course of the next year. This is seven per cent more than shared this opinion in March.
Overall, people in London were found to be the most optimistic, with 73 per cent of individuals in the capital expecting a rise. This was in stark contrast to the north-west, where only 35 per cent of people think an increase in house prices is likely.
Such figures could be of great interest to landlords and prospective landlords when it comes to making decisions on where to invest and what types of buildings to acquire.
Published on: July 15, 2013
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