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Mortgage holders expect house price rises

Date: Mon, 13 Jun 2005

The majority of mortgage holders are predicating their current properties will increase in value over the next 12 months.

A new survey, conducted by Yorkshire Bank, shows that 54 per cent of homeowners believe their property assets will benefit from returning confidence in the housing market.

The study showed that Welsh mortgage holders are the most optimistic with 63 per cent forecasting an increase in value, whilst those based in the East Midlands and East Anglia were the least optimistic about the housing market, with less 50 per cent believing that prices will rise.

"The longer interest rates remain static, the more likely it is confidence will continue to build and the market remain healthy," said Gary Lumby, head of retail at Yorkshire Bank.

Yorkshire Bank believes that more sellers are willing to hold out for the full asking price and one in four vendors are rejecting offers that are below that level - a sign that the housing market may be returning to a strong position.

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