Research suggests that property prices will continue to increase; therefore more people could be encouraged to put their properties on the market.
2,000 people completed a survey carried out by Halifax, the results of which show that the next year will be a good time to sell a property – its strongest levels in at least four years. According to Halifax’s Housing Market Confidence Tracker 59% of people think it is a good time to sell a home, while only 26% believe it is not.
However, there are concerns that there is a lack of homes on the market for buyers to choose from.
It has recently been said by The Royal Institution of Chartered Surveyors (RICS) that there are signs of a ‘worrying’ upward pressure on house prices as a result. Although, the research conducted across Britain could help to address these concerns. The ability to raise a deposit and concerns about job security were perceived to be the main barriers in the way of home ownership, whilst only 12% of people mentioned concerns about interest rate increases, down 15% from a year ago.
With the hope of putting the supply of homes for sale and the demand from buyers into better balance, consumers still expect house prices to continue to rise.
Below are the percentages according to Halifax, showing people who expect house prices to increase over the next 12 months:
- East Midlands – 49%
- Eastern – 75%
- London – 69%
- North East – 64%
- North West – 50%
- Scotland – 51%
- South East – 79%
- South West – 63%
- Wales – 40%
- West Midlands – 57%
- Yorkshire and the Humber – 66%
Across our extensive network of offices in southern England we are seeing people’s confidence in the market grow. We have seen significant levels of new instructions coming to Chancellors, a trend not seen by every estate agent, as well as increased demand from buyers. To find out what is happening in your local market, contact a Chancellors branch today.
Read full article here: http://www.dailymail.co.uk/wires/pa/article-3053182/House-price-rises-spark-sales.html
Correct at time of publication. The views and opinions expressed herein are those of the individual contributor and do not necessarily reflect those of the Chancellors Group of Estate Agents Ltd or its subsidiaries. References to legislation, best practice and other matters with legal implications such as fees, rules and processes are included for information and editorial purposes only and are not authoritative, nor should they be interpreted as advice. When in doubt you should only take advice from an industry professional or solicitor where appropriate. E&OE.
