Housing market confidence at three-year high

Housing market confidence at three-year high

More than half of homeowners think it will be a good time to sell their property in the coming 12 months as confidence in the housing market grows.

With 56% of owners of this opinion, seller confidence is at a three-year high, according to a Halifax survey.

Unsurprisingly, those in the East and South East of England are the most enthusiastic, with 65% saying it would be a good time to move, compared to just 36% of homeowners in Scotland.

The optimism of potential buyers has remained stable since the last survey, with 60% thinking the next 12 months will be a good time to buy, compared to just 26% who believe it will be a bad time.

Nearly three-quarters of people (71%) think the average UK house price will rise over the next 12 months, with 38% expecting it to rise between 5% and 15%.

Craig McKinlay, mortgages director at Halifax, said: "We've seen a strong start to the year with transaction volumes rising, with the overall sentiment regarding the outlook for the housing market continuing to improve.

"The increase in optimism is partly due to stronger house prices and this shift could provide a much needed increase in the supply of properties available for sale during the rest of the year."

Last month, Halifax's latest house price survey revealed the average UK house price now stands at £179,872 - an increase of 7.9% in the past year.

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