More expect prices to rise than fall in 2012
Saturday, 4 February 2012 10:00 AM
More people expect house prices to rise rather than fall over the next year after a shift in opinion over the last three months, according to the Halifax.
Londoners are the most certain that prices will rise, with a balance of +21 per cent in the bank's housing market confidence tracker.
People in the East Midlands (+18 per cent) and Yorkshire and Humber (+14 per cent) are also confident. Those in the North West, South West and North East expect prices to fall.
The number in the UK as a whole who expect a price rise is now +7 per cent. Three months ago a balance of -2 per cent were saying that prices would fall.
In contrast, people are much more certain about what will happen to rents. Some 61 per cent expect rents to rise and just three per cent think they will fall.
Half of the people questioned think now is a good time to buy compared to only 10 per cent who think it's a good time to sell.
Martin Ellis, housing economist at Halifax, said: "The modest improvement in consumer confidence in the outlook for house prices reflects the resilience of the UK housing market over recent months in the face of a weak economic recovery and the deterioration in the outlook for both the UK and global economies."
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