Zoopla revealed 91% of homeowners in Yorkshire and the Humber are expecting to see house prices rise over the next six months.
A recent report by Zoopla delved into where homeowners in Britain are the most and least optimistic about house price growth. Even though house prices have slowed down recently, 81% of people think property values will rise in their area. Overall, homeowners expect prices to increase by an average of 4.8% in the next six months.
Laura Howard, spokesperson for Zoopla, commented:
“Despite evidence of a slowing housing market and ongoing political uncertainty, homeowners remain optimistic about the future of property prices.”
With significant variation among regions, homeowners in the north of England tend to have more confidence in the housing market, while those in the south are more pessimistic. Homeowners in Yorkshire and the Humber are the most optimistic with 91% predicting property prices will increase. Of those who are forecasting price growth, these homeowners believe prices will go up by an average of 4.5% across the next six months.
The north-west is the second most optimistic region with 90.5% thinking prices will increase in the next six months. Scotland is close behind with 90.3%. Those in Scotland are expecting the biggest price increase with 5.5%.
Homeowners in the south are feeling pessimistic
London homeowners are the least hopeful with 32.8% forecasting prices will drop by an average of 6.7%. This is not surprising as property prices in the capital have fallen, especially in the past year. Homeowners in the south-east are also downbeat with 26.1% predicting housing prices to decrease by an average of 6.1%.
The south, especially London, has felt the brunt of stalling housing prices since the EU referendum. Regional cities in the north have been the most resilient throughout political and economic uncertainty, which is likely why many homeowners in the north feel more confident about the property market.
