And the level by which homeowners expect house prices to rise has also improved over last year with the average homeowner now predicting a 3.4% rise in their local property prices over the next six months, up from 2.7% last year. Curiously, homeowners remain more confident about the performance of their own homes (expecting them to rise by 3.8%), than those of their neighbours.
London’s homeowners are the most optimistic about the state of the British property market. Four in five (82%) owners in the capital believe prices will rise in their area over the next six months with average growth of 4.7% expected over this period. Owners in Northern Ireland are the least optimistic with just 53% expecting property prices to rise by March next year.
Lawrence Hall of Zoopla.co.uk commented: “Late summer and early autumn are busy periods for the property market which can lead to a boost in homeowner confidence. The fact that optimism is up compared to last year is a good sign, however, confidence levels remain well below the levels seen in late 2009 and early 2010.”
Have your say on this story using the comment section below