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Is There Property Market Confidence Where You Stay?

  29 Jun 2018

One of the most important things in life is confidence, and this is as true for the property market as it is any other field or sector. Given the amount of negative stories and alarming predictions regarding the UK property market, it is understandable that many people don’t have confidence about their property and the value it holds.

However, there are many parts of the country where it seems are choosing to have a more optimistic outlook about their property value and price. It is understandable that the outlook in London isn’t as bright as it is in some other places but even then, with London property prices still managing to hold up comparatively well despite many negative predictions, no one should lose too much sleep over the property market just yet.

There is growing positivity surrounding property prices

The study undertaken by Zoopla certainly suggests that no one is losing much sleep about property values. More than 80% of respondents said that they expect house prices in their area to grow in value in the upcoming months. When the same question was asked in November, the answers weren’t as positive with the recent findings comprising of a 14% increase in optimism.

In the November study, an increase of 4.9% in property prices was predicted for a six-month period but with respect to the most recent study, the expected increase was listed as 6.9%. This may not seem like a massive improvement but in terms of property prices, heading into the summer of 2018, there is more positivity surrounding the state of the market.

With respect to specific parts of the country, the East Midlands is the area that has most positivity surrounding property values as 93% of respondents expected prices to rise. The East of England also provided an optimistic return, with 90% of respondents expecting an increase and in the South West of England, there was a positive response of 89%.

London property optimism is holding up as well as can be expected

The least confident area with respect to expected property prices is the North East of England, where only 63% of the respondents stated they expected an increase in property prices. This figure makes the London response more optimistic, coming in at 76%. In the grand scheme of things, having three quarters of respondents expecting a property price rise isn’t a negative return. It could be argued that despite all the challenges in recent times, the London property market has weathered better than many people expected it to.

There will always room for improvement when it comes to the property market and there is always people with contrasting views in the property market. A homeowner would be happy with rising property prices when they have no intention of buying property but someone actively looking for property would be satisfied if prices dipped or tailed off.

Everyone will have their own views on house prices but the fact that there is a collective belief house prices and values will rise is positive news. If you are looking for guidance and assistance in the property market, contact Jezzards and we will be delighted to help.


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