20 May

British homeowners more confident of price rises

British homeowners more confident of price rises

More people across the UK are now confident that the price of their home will increase in times ahead, with London being the key area for growth yet again.

According to the latest findings from Knight Frank and Markit, the sentiment in London for price growth confidence has risen in May from April's figure of 70.8 to 76.3. 

The report said that much of this has come in the wake of the government's flagship Help to Buy scheme. From January of next year, it will seek to offer cheaper mortgages to people across the UK, and this is something that will see the cost of buying rise repeatedly in times ahead.

Gráinne Gilmore, head of UK residential research at Knight Frank, said: "Optimism that the Government’s Help to Buy scheme will have a positive impact on house price movements remains strong this month, the index suggests, especially among first time buyers."

Knight Frank and Markit not only said that there is confidence going forward though, as it also indicated that recent times have seen rises in price, with 13.5 per cent of Brits saying their home has gone up in value in the past four weeks, the highest level since June 2010.ADNFCR-1222-ID-801587686-ADNFCR

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