40 per cent of Brits Expect House Prices to Rise

40 per cent of Brits expect house prices to rise by up to 10 per cent during the next 12 months, according to the latest sentiment OnePoll survey, conducted by Freehold Sale.

The poll, which surveyed UK residents planning to buy a home or property in the next five years, hoped to gauge the level of confidence in the property market exhibited by buy to let property investors and potential home buyers.

When quizzed on their opinion regarding currently property prices, over 41 per cent considered properties in their local area to be overpriced. Unsurprisingly, the proportion of those with this opinion was largest in the capital, at 57 per cent. 54 per cent in the South East said that their local area was overpriced whilst 52 per cent in the Southwest and 50 per cent in East Anglia felt the same.

Of the 48 per cent of investors and potential buyers who felt that house prices would rise by up to 10 per cent, 25 per cent felt that there would be a 5 per cent rise, whilst 23 per cent felt that there would be a rise of 6-10 per cent over the next year.

Enquiring about the reasoning behind these opinions, it was found that 43 per cent of respondents felt that the UK leaving the European Union would be a significant driver of price growth in the UK over the coming year.

With regards to popular property types, the survey found that 31 per cent are looking to purchase a new build as their next home, suggesting that buyers are likely to be those seeking a long term investment or a family home.

 

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