More Briton Expect Property Prices To Rise Than Fall

According to PW, Halifax Housing Market confidence tracker says that prices are rather expected to rise than fall over the next year. Although house prices fell by 1.2% on a quarterly basis in April, one in three of survey respondents actually predicted that average UK house prices will rise this year, whilst 23% expect a fall in prices. This means, on balance, more people in Britain think house prices will rise than fall, revealing a positive House Price Outlook Score of +9 percentage points.

The majority of Britons think that any house price movement over the next year will be relatively small with more than a half, 57%, expecting any change to be between +5% and -5%. A further 26% think that house prices will remain the same. Nonetheless, almost a quarter, 24%, believes there will be more significant change in house prices with increases and decreases predicted of 5% or more.

Half of Britons think that it would be a good time to buy over the next three months, more than three times the 14% that felt that it would be a good time to sell. Just 15% were positive about both buying and selling in the next 12 months, suggesting that the level of housing market activity may remain subdued.

The survey highlights concerns among consumers over the uncertain outlook for the UK economy. Just over a quarter, 26%, expect their personal financial circumstances to worsen over the next few months with a further 54% anticipating no improvement.

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