British Property Award Winner 2017 & 2018
This is the first time since the regular survey began in spring 2011 that the proportion of people thinking positively outweighed those who thought it would be a bad time.Andy Hatoum, of the property search engine Placebuzz.com, said: “Buyer confidence is back with a vengeance in many parts of the country, fuelled by a continued supply of cheap mortgages and a more buoyant economy.“The slight worry is that mixed in with this confidence is a degree of fear, especially with first-time buyers, that if they don’t take the plunge now they will be left behind as lack of supply and buyer demand drives prices higher and out of reach.”A lack of homes on the market is one of the main factors that housing market experts say has been pushing up house prices.Martin Ellis, Halifax housing economist, said: “The recent strengthening in house prices is increasing the amount of equity that many home owners have in their home.
”Halifax’s report comes after building society Nationwide recently reported house prices surged by 8.4 per cent over 2013 across the UK as the market revival became increasingly broad-based.Howard Archer, chief UK and European economist for IHS Global Insight, said: “Latest surveys and data on the housing market are largely robust and there is a real risk that a new housing bubble could really develop in 2014.”lThe Bank of England is set to hold interest rates at record lows today despite speculation that falling unemployment means it may soon have to raise borrowing costs or change the threshold for doing so
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