According to the latest Zoopla.co.uk Housing Market Sentiment Survey, there is a returning of confidence to the property market as about two-thirds of homeowners stated that they anticipate property prices to increase over the next six months. Last year about 50 percent believed that the property prices would increase.
In comparison with a third of people in December who thought that prices would fall, only a quarter expect prices to fall now. More optimism abounds now concerning the amount that prices will increase. Out of 7,984 people surveyed, people predicted that prices in their area will increase by 2.8 percent within the next six months, which is a 1.9 increase from three months ago.
Northern Ireland saw the greatest improvement, in which 57 percent of homeowners anticipated property prices to increase. This is a 42 percent increase from three months ago. Scotland also saw respondents anticipate high gains at 63 percent.
With the last nine months experiencing steady declining prices, Nicolas Leeming from Zoopla.co.uk states that this may be a good sign that the property market is on the upward swing.
There is a low inventory of homes currently and homeowners are continuing to anticipate prices to increase in their areas. The confidence levels are not the same as they were in early 2010, but the improvement is being received well and increasing optimism.
Many real estate experts anticipate about a 2 percent decrease in property prices in 2011 as a whole and many are quite optimistic that the property market will have a favorable year.
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