Households in UK confident about housing market outlook, latest survey shows

Want to buy a home in Bromley anytime soon? Need to upgrade from where you live now? Well, it seems that the housing market is on your side now. According to the house price sentiment index (HPSI) housing values are on the rise and will continue throughout 2017. This, according to major housing market studies across UK.

The ratio of house values that rose and those that diminished gave a ratio from HPSI of 57.5 which was up from 55.8 in January. This positive movement reportedly is happening in 10 of 11 regions about the UK. Household gains saw the greatest rise in the South East and the worst gains came from Wales, however, all regions saw positive increases compared to just after Brexit in June.

There is much more to learn about good things for the future. In this article you can learn for yourself. Brexit worries seem to be subsiding, but the UK still has to work out a withdrawal from the EU and you can get positive explanations from this enlightening article. Happy House hunting.

Key Takeaways:

  • The perceived rate of house price growth rose month on month with respondents in 10 of 11 regions covered by the Knight Frank and IHS Markit house price sentiment index
  • Overall some 19.9% of the 1,500 households surveyed across the UK said that the value of their home had risen over the last month, while 4.9% said that prices had fallen.
  • The future HPSI, which measures what households think will happen to the value of their property over the next year, rose in February to 67.5, up from 65.5 in January and from 62.3 in December.

Key Quote:

"Home buyers and home owners are also benefitting from near record low mortgage rates, although affordability is an increasingly pressing issue in some areas."

Read the full article:

http://www.propertywire.com/news/uk/households-uk-confident-housing-market-outlook-latest-survey-shows/

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