Homeowners in the UK have predicted that house prices are set to rise by 7.2 per cent over the next six months, a survey has found.
The report revealed that this was the highest predicted growth for four years, up from 5.7 per cent three months ago and 3.2 per cent in 2013, indicating that confidence in the property market has reached a four-year high.
The Housing Market Sentiment Survey conducted by Zoopla found that an overwhelming 92 per cent of respondents expected house prices to rise in the months leading up to summer.
According to financial reporter.co.uk, London homeowners proved to be the most confident in the housing market, with 98 per cent of those surveyed expecting a further rise in property prices in the coming months, predicting an average price growth of 9.6 per cent.
Lawrence Hall of Zoopla told propertywire.co.uk that with 2013 proving to be the year that kick-started the property market, fuelled by the government’s incentive schemes, 2014 could be the year that we see a considerable increase in activity levels.
Mr Hall said: “Across the country homeowners are starting the New Year far more positive about the health of the property market. Early indicators suggest that we can look forward to a busy first few months to 2014, as current levels of confidence are likely to fuel more transactions.”