While there has been plenty of uncertainty surrounding the UK economy, the property market has remained strong in the two years since Brexit.
Many homeowners and potential movers became unsure and hesitant when it came to making decisions on their home, however, new data suggests that confidence in the market is on the up.
A recent Housing Market Sentiment survey from Zoopla hoped to discover how confident each region in the UK is about their home and their expectations for the next six months.
The survey revealed that 84% of homeowners in Britain expect property prices in their area to rise over the next six months, when the same survey was taken six months ago, this figure stood at 70%, which is quite the change in such a short space of time.
This is the largest increase in confidence since before the Brexit vote and on top of this, homeowners expect rises by an average of 6.9% in their area, another figure that has seen a jump, as it stood at 4.9% six months prior.
“Encouraging”
Director of Communications at Zoopla – Lawrence Hall – commented on the uptick in positivity, he said; “It’s encouraging to see a bounce-back in consumer confidence in the market – it’s the largest increase we’ve seen since 2016,”
Jim Parker Fife Properties Group Office Owner said, “We are seeing consumer confidence at an all-time high with many properties going under offer in record times so now is the time to sell”
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