3 Jul

Savills: Homeowner confidence is on the up

Savills: Homeowner confidence is on the up

Confidence has been resorted in the housing market and Brits are happier to put their homes up for sale, it has been claimed.

Savills explained that there is an "element of demand" for property and the number of new buyers is continuing to rise.

Because of this, homeowners believe that their house is more likely to sell.

They are also seeing greater price stability and consider the worst of the falls to have passed, the company continued.

Lucian Cook, director of residential research at Savills, said: "For many people there is nothing worse than thinking: 'Crikey, I'm going to put it on and it might not sell'."

Therefore, improved transactions, new buyers and "knowing what they are going to get for their property is also going to make them much more comfortable in doing that", he added.

According to statistics from Hometrack, the average house cost £155,600 in June – the same as it did in April and May this year.

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