The vast majority of homeowners in Britain are confident in
the performance of the property market over the next six months, according to
Zoopla’s latest housing market sentiment survey.
Confidence in the market is growing, with 81% of homeowners expecting
property values in their areas to increase before the end of the year.
Confidence was particularly high in Yorkshire and the
Humber, and the North West, where 91% of respondents said that they expected
house prices to rise over the next six months.
At the other end of the spectrum, London is the least
confident region, with just 67.2% of homeowners in the capital expecting
Of those expecting house price growth across the UK, the
average level of growth anticipated is 4.8% over the next six months.
However, it was those in Scotland that were the most
confident in the property market, as homeowners north of the border believe
that house prices will increase by 5.5% before the end of the year.
The North East was next, followed by the West Midlands, with
homeowners in these two regions expecting growth of 5.4% and 5.1% respectively.
The lowest level of house price growth expected was in the
North West, at 4.45%.
Laura Howard, the Spokesperson for Zoopla, says: “Despite evidence of a slowing housing market and ongoing
political uncertainty, homeowners remain optimistic about the future of
“Zoopla’s latest UK Cities House Price Index
showed that house price growth slowed to 1.7% across the country’s 20 major
cities in the 12 months to April, and to 2.2% across the UK as a whole. Yet,
81% of homeowning Brits expect property values to increase in their area over
the next six months, at the higher rate of 4.8%.”
She continues: “A staggering 91% of homeowners
in Yorkshire and the Humber expect prices to rise in their region by the end of
the year, at an average rate of 4.5%. This mirrors the pace of the markets in
native Sheffield and Leeds, which registered rises of 4.4% and 3.5%
respectively, according to Zoopla’s Cities Index.
“Conversely, it’s no surprise that London
homeowners are the least confident, with prices in the capital falling by an
average 0.5% compared to 12 months ago – the largest fall across all 20 cities.
However, still, more than two-thirds (67%) of London homeowners expect to see
rises in the next six months – and of a considerable 4.5%.”
Howard believes: “Whether or not these
forecasts prevail, consumer sentiment plays a crucial role in the health of the
housing market. A feeling of stability means buyers are more likely to start
actively looking for their next home, confident that now is the right time to
make a purchase. And, in turn, an active pool of buyers will encourage sellers
to list their homes for sale.
“This not only brings buoyancy to the housing
market, but also offers an opportunity for agents. Vendors fuelled with
optimism for house price growth will need to listen carefully to the advice of
their estate agents when looking to sell their homes, relying on agents’ local
market expertise and experience to accurately price their properties. Consumer
positivity must be channelled, to ensure that pricing is correct from the
outset – this is vital for a swift sale at a price that’s as near to asking as