Brits expect house prices to rise
An expected rise in house prices over the next 12 months could prompt Britons to invest in buy-to-let properties in the coming weeks.
Figures from the Halifax Housing Market Confidence Tracker showed that a third of respondents believe property values will increase in the next year.
In contrast, just 23 per cent of those polled are of the opinion that house prices will fall.
As a result, half of Britons think that it is a good time to buy a home in the next three months, before values increase beyond their budget, and less than a sixth (14 per cent) of people believe that they should sell their property now.
Suren Thiru, housing economist at Halifax, said: "More Britons expect house prices to rise rather than fall over the next year. This is likely to partly reflect the relatively low burden of servicing mortgage debt."
The report also revealed that consumers are concerned about the impact of the economy on their ability to enter the housing market.
More than half of Britons expect their financial situation to remain the same, while 26 per cent believe it will deteriorate.
Fifty-two per cent of those surveyed by Halifax also discussed their fears about job security and 22 per cent cited interest rates as a dissuading factor for investing in property.
"Confidence in the UK housing market is likely to remain subdued over the coming months, given consumers' concerns over the outlook for the UK economy in general, and the jobs market in particular," explained Mr Thiru.
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