Housing market sentiment favours buyers

Published by Michael Trudeau on 15 December 2014.
Last updated on 15 December 2014

Housing market sentiment favours buyers

An increasing number of people think 2015 will be a better time to buy a house than to sell one, according to a survey of market confidence by Halifax.

According to the Halifax Housing Market Confidence Tracker, a higher proportion of people think the next 12 months will be a better time to buy than sell, and the proportion thinking the reverse has fallen to its lowest level since the final quarter of 2013.

Halifax has forecast an easing of house price growth to between 3 and 5 per cent for next year.

Craig McKinley, mortgages director at Halifax, says: 'The strengthening in the UK economy over the past couple of years has seen a steady convergence between the proportions of people who believe it is a good time to buy and a good time to sell.

'The outlook for house prices in 2015 is for growth to moderate but continue to increase, which perhaps explains why the proportion thinking it will be a good time to buy is again greater than the proportion thinking it will be a good time to sell.

'With interest rates expected to rise in late 2015, possibly into early 2016, it will be interesting to see what impact the slight reduction in affordability has here.'

According to Nationwide, the rate of house price growth continued to ease off in November, making it the third consecutive month of slowing price rises.

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