It might just be that the confidence in the housing market is beginning to be restored as it seems that house prices this month are higher than the price they were this time last year. These figures have just come out of a survey that was recently conducted which showed that 80 percent of properties are at a higher price than a year ago.
The survey also looked at the confidence of people and it showed that around 35 percent of them felt that house prices would be higher in one year. This is a price forecast that is going to be welcomed by many in the industry and it shows that people will be looking to buy houses in the near future.
Right at the other end of the spectrum however there is a negative outlook. Around 20 percent of people said that they felt the property prices would decline. However, this group of people has shrunk significantly, and is at its lowest point since 2010.
The survey agrees with findings by the Halifax bank which showed that around 40 percent of people believed house prices were going to go up. Both studies have shown that the number of people believing house prices will increase is significantly higher than those who feel that it will fall.
However, when you ask the experts, it doesn’t seem like such a good picture. For example, the chief European economist of IHS Global Insight has stated that he thinks house prices will fall by around three percent by the end of this year. Also figures from Halifax showed that the price of houses did fall in April, although they have not fallen below the price of last year.
Other information has shown that the number of transactions occurring has fallen. In April it is estimated that the number of sales fell by around 20 percent, these figures are according to IHS Property Services. The study was conducted by Rightmove and it also showed that because of the increased confidence in the housing market, fewer people are lowering the price of their houses in order to make a sale.