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Home owners expect house prices to rise further but are becoming increasingly concerned about mortgage constraints according to research by Zoopla.

Some 92 per cent of the 7,810 owners who took part in the portal's latest sentiment survey expect house values to rise further over the next six months, with the average prediction for price growth over the remainder of the year currently stands at 7.6%.

The Mortgage Market Review and associated new lending rules have both slowed down the mortgage application process and made securing finance more difficult with 40 per cent of those surveyed acknowledging that securing a mortgage is now harder than it was three months ago.

For the first time in well over a year, London homeowners are not the most confident across the country about house price rises in their area.

South east England, the south west, the east of England and the west Midlands have all overtaken the capital in terms of homeowner confidence. With London prices having moved up so far and fast, the proportion of homeowners in the capital who expect prices to rise over the next six months has fallen from 98 to 92 per cent over the last three months.

Comments

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    I agree, we risk overheating soon. UK wages aren't raising at a fast enough rate to accommodate these rising house prices, more needs to be done to change this.

    • 30 July 2014 10:50 AM
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    I'm not so sure I agree - If mortgage applications keep slowing down, it makes no sense for the prices to stay rising because people won't be able to buy. The bubble has to burst at some point and I think that time is soon.

    • 30 July 2014 09:55 AM
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