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UK Homeowners Predict 4.8% Price Growth In 2nd Half of 2019

Yorkshire property owners are the most optimistic, followed by the North West and Scotland

Nearly a third of homeowners in London expect property prices in the capital will decline by 6.7% over the next 6 months

Homeowners are confident that the housing market will continue to grow, with some predicting property prices will increase by nearly 5.0% over the next five years, according to Zoopla.


Across the UK, some 81% of people expect prices in their local area will increase, despite the general slowdown in growth in recent months.


As a result, homeowners predict the average price of a house will rise by 4.8% throughout the second half of 2019.


People owning their home in the northern regions were found to be more confident, with 91% of homeowners in Yorkshire & the Humber anticipating further price growth, closely followed by 90.5% of owners in the North West.


Despite being the third most optimistic region, with 90.3% of homeowners predicting price increases, owners in Scotland expect the highest gains in the next six months at 5.5%, closely followed by 5.4% in the North East, and 5.1% in the Midlands.


By comparison, London homeowners are the least confident, with nearly a third (32.8%) predicting prices will fall by an average of 6.7% during the same six-month period.


Commenting on the figures, Zoopla spokesperson Laura Howard said: “Despite evidence of a slowing housing market and ongoing political uncertainty, homeowners remain optimistic about the future of property prices.


“A feeling of stability means buyers are more likely to start actively looking for their next home, confident that now is the right time to make a purchase. And, in turn, an active pool of buyers will encourage sellers to list their homes for sale.”


Favourable low mortgage rates are continuing to attract existing homeowners and first-time buyers despite subdued sales volumes, according to the latest Mortgage Monitor by e.surv.

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