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Confidence in housing 'hits new high'
18/03/10
Edited by Tom Bardsley. Confidence in the outlook for the residential property market hit a new high in February, with 71 per cent of people expecting house prices to rise over the coming year.
According to a survey by Worldwide Property Group (WGP), only ten per cent of Britons think that prices will fall in the next 12 months, the lowest figure since it began its confidence tracker in August 2009.
The company noted that the number of people who expect prices to rise has increased in every month since November.
Another 80 per cent of those questioned said residential property represents the best asset and 85 per cent believe that it is a good time to invest in UK property.
WPG managing director Kevin Wilkes said: "As the market strengthens further throughout the year, I would expect confidence to continue to increase."
The company's figures contrast with research released earlier this week by the Building Societies Association, which showed that the proportion of people who think now is a good time to buy has dropped below 50 per cent for the first time since December 2008.
