Press Room
Increasing Confidence In House Price Rises Witnessed
Brits are now more confident that house prices will increase in 2012, with eight out of 11 regions recording a positive balance on the Halifax Housing Market Confidence Tracker.
Around a third of Brits see house prices increasing in the next 12 months, pushing the index into positive territory with a +7 reading.
This compares to a reading of -2 in October, when 30 per cent expected prices to fall.
Londoners remain the most optimistic about the prospects for house prices, with a headline net balance of 21 per cent.
East Midlands and Yorkshire and the Humber both also recorded headline net balances in excess of ten per cent, with eight of the 11 regions overall recording a positive balance.
Martin Ellis, housing economist at Halifax, said: "The modest improvement in consumer confidence in the outlook for house prices reflects the resilience of the UK housing market over recent months in the face of a weak economic recovery."
Figures previously released by the bank show Woking experienced the largest house price increase of all towns in the UK in 2011, registering a 16 per cent rise.
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Article date: 2/7/2012 12:00:00 AM