House Prices are expected to increase 5% over the next six months according to Zoopla’s latest Housing Market Sentiment Survey, where just over 2,000 of its registered users gave their sentiment on the housing market.
Essentially 8 out of 10 properties are expected to see their value rise, despite inflation dropping to 1.7% across major cities in the 12 months to April.
Laura Howard, a spokesperson from Zoopla mentioned “Despite evidence of a slowing housing market and ongoing political uncertainty, home owners remain optimistic about the future of property prices.
“Consumer sentiment plays a crucial role in the health of the housing market. Vendors fuelled with optimism for house price growth will need to listen carefully to the advice of their estate agents. Consumer positivity must be channelled to ensure that pricing is correct from the outset.”
A home moving comparison website called Reallymoving, has also forecasted that house prices will increase an astonishing 9% between now and August !
CEO Rob Houghton said: “Prices agreed this spring will show in Land Registry data in the summer. However, our customers registering for home move services as soon as their deal is agreed are giving us unique insight into what lies ahead for the housing market.
“Our forecasts suggest that sellers are growing tired of the ‘wait and see’ approach and once the Brexit deadline passed at the end of March, with no further clarification, sellers decided to press ahead with their move.
“This new buyer demand and a continued shortage of quality housing stock is on course to drive strong price growth between May and August, with particular surges in regions benefiting from strong demand such as the north-east and the south-west, where affordability remains attractive and wages are rising.
“There is considerable pent up demand in the market following three years of uncertainty and with many doubting that Brexit will be resolved any time soon, people are increasingly making the decision to move on regardless.”
On a separate note, HomeLet reports are now showing that the average rent has risen to £1,602 in London and £776 outside London.
The property market in Leicester has certainly been lively and we don’t see a slow down anytime soon. With consumer sentiment and confidence on house prices increasing, it certainly shows a good sign on how the property market will be shaping over the next six months.
If you are looking to SELL, BUY or LET your property, contact me to find out how we can help you with your property needs by emailing me directly at email@example.com or calling me on 0116 266 9977 for honest, expert and friendly advice.
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