More than a third of home movers expect house prices to be higher in 12 months’ time, the highest level since Q3 2010, research from Rightmove reveals.
House price confidence was strongly influenced by the mortgage market as among price-optimists,
35% reported an improving mortgage market and a further 14% identified continued low interest rates as the main reason for their view that prices would be higher 12 months from now.
Mortgage related concerns were even more prevalent amongst price pessimists with nearly two thirds collectively citing little or no improvement in mortgage availability, high deposits required by lenders and fear of interest rates rising.
Miles Shipside, Director of Rightmove, said: “While the most common view remains that property prices will be about the same one year from now, this is the most upbeat price forecast Britain’s home movers have delivered in nearly two years.
“The mortgage market continues to occupy home movers’ thoughts and there is evidence here that house price confidence is steered by their interpretation of mortgage availability.”
David Sansome, Managing Director at Sansome & George said: “Rightmove are reporting from a national perspective and the property market varies enormously from location to location.
In West Berkshire and North Hampshire we see absolutely no reason for pessimism on property prices but urge prospective sellers and buyers to take local professional advice on values in order to best plan their move.”
