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Housing market confidence at highest level in 3 years

26th April 2013

  • 74% of homeowners expect house prices to rise by September
  • Average house price predicted to grow by 4.5% over next six months
  • Owners in Yorkshire and Humber least confident. London owners most bullish

UK homeowners are expecting house prices to rise by 4.5% over the next six months, a sign of significant confidence returning to the housing market, according to the latest research from property website Zoopla.co.uk.

This is the biggest predicted house price increase by UK homeowners in over 3 years and could signal that 2013 is set to be the best year for the property market since the financial crisis struck.

The proportion of homeowners who think that house prices will increase this year is also at the highest level for almost three years with three quarters (74%) of those surveyed predicting prices in their area will increase, the most since the second quarter of 2010.

Confidence has grown notably over just the past few months as only 65% of owners predicted an increase back in December. And only 13% of owners now expect prices to fall over the course of the next six months, down from 19% at the end of last year.

Owners in Yorkshire and the Humber are the least bullish with only 61% expecting property prices to rise over the next six months. In stark contrast, 89% of London homeowners predict prices to rise by the end of summer making them the most confident property owners in the UK.

Lawrence Hall of Zoopla.co.uk, commented: “The housing market has seen a number of positive events in recent weeks including the Budget and growing confidence from homeowners is a significant step towards a recovery. With first-time buyer lending gradually increasing and mortgages becoming more readily available, there is real belief that the property market is starting to turn a corner and finally drag itself out of the hole since the financial crisis.”

Methodology

  • Zoopla invited registered users of Zoopla.co.uk to participate in this study.
  • The survey was fielded from 25th – 29th March 2013.
  • There were 4,116 total respondents, of which 3,485 were homeowners. Statistics based on a sample of this size are accurate to within less than +/- 1.0% with 95% confidence, if the sample is drawn at random from the population it intends to represent.
  • These respondents represent the perspective of the Zoopla.co.uk user community, and could be considered to represent the population of people interested in the UK residential property market.
  • All statistics are based on the full sample unless otherwise noted.

- Ends -

For further information, please contact PR Team on pr@zoopla.co.uk or +44 (0)20 3873 8770.

About Zoopla

Hello. We're Zoopla. A property website and app.

We know you're not just looking for a place to live. You're looking for a home.

Yeah, we've got over a million properties for you to browse.

Tools that let you filter them in all kinds of clever ways.

And reliable house price estimates, so you can be sure you aren't paying over the odds.

But we know you're looking for more than that.

Because that first flat won't just be a 'great investment opportunity'.

It'll be the feeling of starting out on your own.

That extra bedroom won't just mean another £20K on the re-sale price, it'll mean having your sister over to stay.

And that bungalow won't just be a way to release some equity, it will be a chance to spend more time with the grandkids.

We know that searching for a home is about more than just checking its price, location and features (important as all those things are).

What really matters is how it makes you feel.

We know what a home is really worth.

So let us help you find yours.

Zoopla is part of Zoopla Limited which was founded in 2007.

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