| CATEGORY: NEWS AND ANNOUNCEMENTS |
Fri 20 Jul 2012
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LONDON (SHARECAST) - The proportion of Brits who expect house prices to rise rather than fall over the coming twelve months diminished in quarter two, according to the quarterly Halifax Housing Market Confidence Tracker.
Thus, Brits still expect house prices to rise and not fall over the coming twelve months by a margin of 34% to 19%, for a balance of 15%. Yet that is down from a balance of 19% in March.
Despite this slight weakening, confidence in house price prospects remains higher than at the beginning of the year, with the house price outlook balance in June more than double the +7 in January, Halifax adds.
Martin Ellis, housing economist at Halifax, commented:
“(…) This is consistent with the broad house price stability experienced over the first half of 2012.
"Overall, we expect little change in prices and sales over the remainder of the year, provided that the UK's economic outlook does not deteriorate significantly."
Those living in London and Wales were the most confident about the prospects for the housing market, with an overall net balance of +25 in both in June.
Other details:
A full 38% of men predict that house prices nationally will increase in the next 12 months compared with 32% of women.
The young were most optimistic over the outlook for house prices with 16-24 year olds and 25-34s being the most optimistic regarding house prices with an overall net balance of +26 among each age group in June.
Out of all respondents 61% forecast that the cost of private sector renting will increase over the next year. Whilst this is down from 71% of respondents in March's survey, the proportion of Britons that think rental costs will increase over the next 12 months remains substantially higher than the proportion who thinks that rents will fall (61% against 4%).
AB
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