Property market confidence dips amid ‘economic uncertainty’

Tuesday, 01 November 2011 09:55

Confidence in Britain’s housing market is waning, with more people predicting that property values will decline than increase over the next 12 months, a report published today suggests.

The Halifax said that 30 per cent of the 1,986 consumers it polled expect a drop in price by next year, marginally higher than the 28 per cent who think prices will rise.

But the opinion is split three ways, as 27 per cent of people surveyed said they believe prices will be unchanged in a year’s time.

According to the lender's study, owner occupiers are feeling more pessimistic about the housing market than the public as a whole.

A third of homeowners believe the UK average property price will be lower a year from now, compared with a quarter who think that it will be higher.

At the same time, 80 per cent of owner occupiers polled think the next 12 months would be a bad time to sell their home, compared with 58 per cent who think it would be a good time to purchase property.

Housing economist at the Halifax, Martin Ellis, said: “It is unsurprising that confidence in the housing market has been shaken a little over the last few months given the increasing uncertainty about the current economic environment.”

Property prices suffer 0.9% dip, says Halifax

UK homeowners saw their properties lose 0.9 per cent in value last month, almost completely reversing the 1.2 per cent increase in October, new figures indicate. According to the Halifax, house prices are one per cent lower than a year ago.

Property values ‘increase by 1.2% in October’

Britain’s property prices went up by 1.2 per cent last month, according to a report released today by the Halifax. The lender said that the average house price of £163,311 is 1.8 per cent lower than in October last year.

Property prices lacking genuine direction, says Halifax

Properties across the UK typically lost 0.5 per cent of their value last month, according to data published today by the Halifax. Comparing annual figures also suggests a price drop, with average values 2.3 per cent lower than in September 2010.

Property values set to edge lower, says RICS

Sales of homes may rise a little over the coming year but prices will struggle to follow suit, according to the RICS Housing Market Forecast published today. Headline price levels are predicted to drop by around three per cent across the UK.

Outlook stays subdued for UK housing market

There was a modest increase in Britain's property prices of 0.3 per cent during July, but the market is likely to remain muted for the rest of the year, according to figures published today by the Halifax.

 

Luxury Property

House Prices