Confidence returning to housing market: Halifax
Twenty-nine per cent of Britons think house prices will rise rather than fall in 2012, according to the latest Halifax survey.
The Housing Market Confidence tracker revealed 29 per cent of Britons forecast house prices across the UK would increase in the next 12 months, but more than 22 per cent predicted a price decline.
Martin Ellis, housing economist for Halifax, said: “The modest improvement in consumer confidence in the outlook for house prices reflects the resilience of the UK housing market in recent months in the face of a weak economic recovery and the deterioration in the outlook for both the UK and global economies.
“We currently expect broad stability in house prices in 2012, although there remains much ambiguity around this given the considerable uncertainty regarding the prospects for the UK economy.”
In the survey 57 per cent identified difficulties in raising a deposit while 55 per cent had concerns about job security as the main obstacle to buying a property.
Matthew Rich, IFA for Somerset-based Alan Seward Financial Services, said: “We have definitely noticed an increase in the amount of money going into the property market in the past six months.
“I think people’s fear that prices were going to fall has subsided and this has meant people who sat on cash are more positive about buying, particularly if they are holding for the longer term.”
