Homeowner confidence high

According to the latest Housing Market Sentiment Survey from Zoopla homeowners are more confident in the market than they were this time last year.

65% of home owners think house prices will rise over the next six months compared to 55% this time last year.

Only 19% expected prices to fall during the same period compared to 29% a year ago.

According to the survey homeowners expect UK property prices to rise by an average of 3.2%, this equates to an increase in value of ï¿¡7,261 on an average house.

The survey was not all good news however with 85% saying that mortgage conditions had not eased over the last three months.

As ever the London market shows more extreme trends with 84% of respondents expecting price increases with an average rise of 5.8% expected.

Lawrence Hall of Zoopla.co.uk said: “Homeowner confidence has re-bounded strongly from one year ago, with a significant majority now expecting to see house price increases over the first half of the year.

“While we are not yet back to the levels of post credit-crunch optimism seen in late 2009, the increased confidence bodes well for both market activity and pricing in 2013.

“The single biggest drag on both confidence and the market overall is still the availability of mortgage finance, or rather the lack of it.”

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