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Brits think house prices will rise over next year

Monday, 13 June 2011 2:16 PM

More Britons expect house prices to rise than fall over the next 12 months, the results of a survey released today claim.

According to the Halifax’s Housing Market Confidence tracker, one in three of survey respondents predicted that average UK house prices would increase this year despite house prices falling by 1.2 per cent on a quarterly basis in April.

The optimism of these respondents was tempered by 23 per cent who said they expected a fall in prices over the course of the year, the survey said.

On balance, more people in Britain think house prices will rise than fall, revealing a positive House Price Outlook Score of +9 percentage points.

The majority of Britons, the report suggested, think that any house price movement over the next year will be relatively small, with more than half (57 per cent) expecting change to be between +5 and -5 per cent.

A further 26 per cent thought house prices would remain the same.

Suren Thiru, Halifax housing economist, said: "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."

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