Newspaper article The Journal (Newcastle, England)

Confidence in Housing Market Surges to Highest Level in Three Years

Newspaper article The Journal (Newcastle, England)

Confidence in Housing Market Surges to Highest Level in Three Years

Article excerpt

CONFIDENCE in the housing market among home-owners has soared to its highest level in three years, a property search website reported.

Almost three-quarters of homeowners (74%) expect house prices in their area to rise by September, with the predicted increase averaging 4.5%, in further evidence that the market is starting to turn a corner, Zoopla said.

Both the proportion of people forecasting house price increase and the typical size of the anticipated increase are the highest figures recorded in around three years by the quarterly study, which began in 2009.

But confidence varied widely, and in stark contrast to the rest of the UK, no one surveyed in Northern Ireland predicted that prices will increase in their area by the end of the summer.

One third of home owners living in Northern Ireland said that prices will be flat over the coming months and two-thirds predict falls. House prices in Northern Ireland have been declining sharply since the economic downturn, following a period of strong increases. …

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