Most home owners still expect prices to rise (especially theirs)

Monday 16th January 2012

Fewer home owners expect house prices to rise over the next six months than at any point in the last year.

Even so, more than half (55%) expect house prices to go up this year. The average prediction is by 2.2% although home owners are convinced that their own property is worth more and will rise by 2.8%.

The finding emerges in a survey by Zoopla of just over 5,000 consumers, of whom 4,700 were home owners.

Three months ago, 59% expected house prices to rise by 2.7%.
 
The latest survey finds that only 24% of home owners expect the value of their own property to fall over the coming six months, although 29% expect house prices in their area to fall.
 
In London, 72% of home owners expect average values in the capital to rise over the next six months, up from 68% last quarter. The average prediction is by 4.8%.
 
Nicholas Leeming, Zoopla director, said: “Londoners are living in a market detached from the rest of the UK.”