Confidence that house prices will rise over the next year has grown to its highest level
CONFIDENCE has grown to the highest level in at least 18 months that house prices will rise over the next year.
Nearly four in 10 (38 per cent) people predict that house prices will rise during 2013, while less than a fifth (18 per cent) forecast declines, according to Halifax.
Findings show the overall price outlook balance, which is worked out by subtracting the share of people who expect price falls from those who predict rises, stands at 20 — the highest reading since the survey began in April 2011.
Although there is overall increase in confidence that house prices will go up next year, Halifax found evidence that the market will remain fairly sluggish.
Some 53 per cent said that 2013 will be a good time to buy — around four times the 13 per cent who said it will be a good time to sell. Only nine per cent thought it was a good time to buy and sell.
People living in Wales and the East of England were the least likely to say that prices are set to increase.