The housing market confidence is up
Public confidence in the housing market is heading upwards, with a
new survey saying that people are expecting to see property prices
increase over the course of this year.
According to the latest survey conducted by the Bank of Scotland,
33 per cent of the public believe that the value of homes will rise
this year, while only 23 per cent think they will fall, giving a
positive figure of +10 percentage points.
This figure is much higher than it was at the last check, when the
Bank of Scotland found in January that only a differential of +4
percentage points expected them to rise.
One of the markets which is pushing the cost of housing upwards is
the buy-to-let sector, which Stuart Law, chief executive at Assetz,
recently described as "booming".
Nitesh Patel, housing economist at Bank of Scotland, said:
"Overall, we continue to expect little overall movement in prices
this year provided that the Scotland and UK economies do not suffer
a pronounced weakening."