UK House Price Confidence Rising - BMV Property Investment Deals

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UK House Price Confidence Rising

Blog and News - Property Market

Written by John Angeletta

Wednesday, 22 February 2012 09:14

According to the latest Halifax Housing Market Confidence tracker, around 1:3 (29%) of Brit's believe house prices will rise during 2012, while 22% predict a decline.

As a consequence, the headline House Price Outlook balance is positive with an overall score of +7 percentage points (29% minus 22%), which represents a marked improvement compared with the negative score of -2 (28% rise minus 30% fall) recorded in October's survey.

Around two-thirds (65%) predict a plus/minus 5% change by year-end but 8-out-of-11 UK regions recorded a positive headline House Price Outlook balance, indicating that more people expect house prices to rise rather than fall.

This contrasts sharply with October's tracker when just 3-regions had a positive headline balance.

Londoners traditionally have the most optimistic outlook with overall net score of +21. This is followed by the East Midlands (+18), then Yorkshire and Humber (+14) [so now is the time to buy].

At the other end, the North East has the most negative outlook for house prices (-3) [good for those seeking BMV opportunity].

Just over half of those questioned felt that raising a deposit was their biggest issue followed by concerns about job security along with household running expenses and the general availability of mortgages.

Half of those questioned felt that it is currently a good time to buy. This 5-times higher than those who thought it a good time to sell.

Perceptions that the UK housing market is better for buyers than sellers partly reflects the dramatic improvement in home affordability over recent years.

Recent research by Halifax revealed that mortgage payments for a new borrower in the second half of 2011 were at their lowest as a proportion of disposable earnings for 14-years.

Martin Ellis, Housing Economist at Halifax said, The modest improvement in consumer confidence in the outlook for house prices reflects the resilience of the UK housing market over recent months in the face of a weak economic recovery and the deterioration in the outlook for both the UK and global economies ... Looking forward, we currently expect broad stability in house prices in 2012, although there remains much ambiguity around this given the considerable uncertainty regarding the prospects for the UK economy.

This is good news for the investor/landlord or those wishing to maximize their money by buying Below Market Value property.

To explore your genuine BMV options, call John on 0203 239 4359.

STOP PRESS STOP PRESS

Abbey for Intermediaries confirmed customers with all/part of an existing loan in interest-only may be able to take the loan with them to another property.

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