Nearly two-thirds of homeowners expect house prices to rise over next six months

UK homeowners are confident about the prospects for the housing market over the next six months, despite the poor economic outlook for the remainder of the year. The latest Housing Market Sentiment Survey from Zoopla.co.uk shows that 63% of homeowners expect house prices to rise between now and the end of 2012. This time last year, only 57% of homeowners expected a rise property prices in the second half of the year.

Keeper's Wood is set within 0.7 acres of south facing rear gardens in a highly sought after road on the prestigious Wentworth Estate, in Virginia Water, Surrey.  There are some first class local amenities in Virginia Water village, including a number of delightful restaurants, cafes, delicatessens, sophisticated fashion boutiques and general stores.  Within a five minute drive is the Michelin 2 star Cowarth Park Hotel, which also has impressive spa facilities.  On the Wentworth Estate is the world renowned Wentworth Club, with its championship golf course, along with three other outstanding courses, tennis, health club with in and outdoor swimming pools, and star rated restaurant.  There is a myriad of local beauty spots for leisurely walks, including the Virginia Water Lakes, Savill Gardens, and Windsor Great Park. For turf fanciers, Ascot Racecourse can be reached in around five minutes by car.  Families will also appreciate the number of local independent schools, including Sunningdale and Papplewick Preparatory Schools, St Georges Boys, St Marys Girls, The American School, and within easy driving distance, the hallowed halls of Eton.  Travel services and connections are excellent. By road, there is fast access to M25, M4 and M3 motorways, Heathrow and Gatwick airports, and rail services from Virginia Water into London take a comfortable 45 minutes.

Confidence in the housing market is now also stronger than at the start of this year when 55% of owners thought prices would rise between then and now. Only 18% of homeowners surveyed by Zoopla.co.uk expect house prices to fall over the next six months.

However,  more than a third of those surveyed said that they believed it is harder to secure a mortgage than three months ago and only 10% thought that finding a mortgage had become easier, the lowest level since 2010.

The report shows that:

* owners in the north-east of England are the most pessimistic about the state of the local property market, with 31% expecting the value of their home to drop over the coming months

* Londoners are the most confident homeowners in Britain with 80% expecting to see prices rise further in the capital over the next six months

* owners in London are predicting average property prices will rise by 5.4% before the end of 2012

“Homeowners evidently feel that there are some grounds for optimism, despite the backdrop of slow economic growth and tight mortgage lending,” said Nigel Lewis of Zoopla.co.uk. “While some areas of the housing market remain weak, enough are holding up to give homeowners the confidence to feel positive about the next six months, particularly in the south and the high end markets.”

 

Source : The Independent