Property prices on the rise

Property prices on the riseProperty prices are continuing to rise in the UK, with no signs that this is beginning to abate.

The latest Zoopla Housing Market Sentiment Survey has shown that the vast majority of homeowners are predicting house prices will rise 7.2 per cent in their area between now and the summer.

It is more than double the 3.2 per cent forecast just a year earlier and the most upbeat prediction in four years.

The study polled 7,796 UK homeowners and showed that 92 per cent of homeowners believe that property prices in their area will increase over the next six months.

Across the UK, homeowners are starting to become far more positive about the health of the property market.

According to early indicators outlined in the report, there will be increased demand for properties in the first quarter, thanks to rising levels of confidence.

Property prices are likely to be felt more strongly in London, with 98 per cent expecting a further rise in property values in the capital during the first half of the year.

Average price growth is expected to rise to 9.6 per cent over this period, above the national average of 7.2 per cent.

Lawrence Hall spokesman for Zoopla, said: "Across the country homeowners are starting the New Year far more positive about the health of the property market. Early indicators suggest that we can look forward to a busy first few months to 2014, as current levels of confidence are likely to fuel more transactions.

"With 2013 characterised by the wave of government initiatives to lure first time buyers onto the property ladder, 2014 could well be the year we see activity levels increase significantly."

However, there are also increased signs that the rise in house prices are leading to the necessity for an increasing number of people renting houses for longer.

Last month, a report published by Belvoir Lettings, revealed that the private rental sector could make up 20 per cent of the homes market by 2021.

Published 5th February, 2014

© 2014 Estates IT Limited

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The latest Zoopla Housing Market Sentiment Survey revealed that property prices are on the rise.

Property prices on the rise

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