26 Jan

Homeowners remain optimistic

Homeowners remain optimistic

Homeowners across the UK feel optimistic that prices will continue to rise in 2016.

According to the latest House Price Sentiment Index from Knight Frank and Markit Economics, property owners in London are the most confident about price growth, while those in the North West are more cautious about how much prices will rise.

The data revealed that 20.9 per cent of the 1,500 households surveyed believe the value of their home has risen over the past month, while 3.6 per cent said they felt prices had fallen.

It is the 34th consecutive month that homeowners have expressed confidence in the market as property prices continue to rise in many areas of the UK.

Tim Moore, senior economist at Markit, explained house price sentiment remains at a consistent level and dismissed wider economic concerns having an impact on confidence.

"Historically, this index has been quick to signal upcoming changes in property market conditions. As a result, January’s strong survey figures suggest that UK house price sentiment has so far been resilient in the face of recent global financial market jitters and a more gloomy economic news flow," he said.

Households in all 11 regions reported that prices rose in January, with confident highest in London and the South East, whereas the North West and East Midlands were less optimistic.ADNFCR-1222-ID-801810929-ADNFCR

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