Jump in house price confidence

Jump in house price confidence
Figures from the Worldwide Property Group have revealed a big jump in house price confidence during December. The company’s monthly confidence tracker survey shows that more people expect prices to rise since the survey was introduced in July 2009.

A huge 68 per cent of those questioned say that they expect house prices to rise over the next 12 months compared to just 57 per cent in November. Interestingly, 1 in 5 of these expects the rise to potentially be as high as 10 per cent.

When asked if they are benefiting from the current record low level of interest rates a massive 69 per cent said yes; again the highest number since the survey began.

According to the survey, 85 per cent of respondents said that right now is a good time to buy UK property and 66 per cent said that they are considering purchasing a property overseas; also the highest since the survey began and an increase of 21 per cent on last month.

Kevin Wilkes, managing director of the Worldwide Property Group said: “This just goes to show that people are getting on with their lives and putting economic fears behind them. We have seen a dramatic increase in enquiries over the last 6 weeks, and with the optimism that a new year brings we have no reason to believe that this will not continue.”

This survey clearly demonstrates the underestimated resilience of the property market with 82 per cent saying that property still offers the best investment potential of any investment