Housing Confidence at Two Year High

15 May 2006

Confidence amongst home buyers and sellers has reached a two year high with buyers’ confidence exceeding that of sellers for the first time in more than two years.

Research carried out by Propertyfinder.com, the UK’s premier property portal, indicates that for the first time in two years buyers believe that house prices will increase at a faster rate than do sellers over the next twelve months.

Buyers are forecasting a rise in prices of more than 7.5% over the next 12 months demonstrating continued confidence in the housing market.

The continued rise in buyers’ positive outlook highlights the pent up demand in the market place resulting from a shortage of properties available on the market.

Warren Bright, CEO of Propertyfinder.com said, “This acceleration in buyer’s price expectations should be good news for sellers as it suggests that buyers will want to purchase properties before further price rises make them less affordable.”

Propertyfinder.com’s survey results over the past two years have proven to be a reliable predictor of future market activity. The latest month’s numbers suggest the market shall remain competitive into the summer  months and that prices should continue on their current upward trend.