UK confidence boost over property
Monday 1st June 2009, 12:01AM BST.
Almost two-thirds of Britons expect house prices to rise over the next 12 months, a new survey has claimed.
But website propertyfinder.co.uk, which carried out the research, has insisted the market remains in “intensive care”.
Although 60 per cent of people surveyed said they thought prices would rise by May 2010 – up ten points from April – the rate of growth stood at just 1.3 per cent.
First-time buyers are increasingly pessimistic, however, while a mini-revival is being seen in London, said propertyfinder.co.uk.
Its director Nicholas Leeming said on Monday that the housing recession was in its death throes.
But while house price indices have indicated a slightl recovery in recent months, mortgage lending is still in the doldrums.
But Mr Leeming is still predicting a gradual rise in transactions.
“Transactions are much more important than prices – unlocking the log jam and getting people moving again boosts consumer spending and provides business for the legion of trades and professions who depend on house moving and renovations,” he said.
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