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Confidence that house prices will rise over the next year has grown to its highest level

By South Wales Evening Post  |  Posted: January 02, 2013

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CONFIDENCE has grown to the highest level in at least 18 months that house prices will rise over the next year.

Nearly four in 10 (38 per cent) people predict that house prices will rise during 2013, while less than a fifth (18 per cent) forecast declines, according to Halifax.

Findings show the overall price outlook balance, which is worked out by subtracting the share of people who expect price falls from those who predict rises, stands at 20 — the highest reading since the survey began in April 2011.

Although there is overall increase in confidence that house prices will go up next year, Halifax found evidence that the market will remain fairly sluggish.

Some 53 per cent said that 2013 will be a good time to buy — around four times the 13 per cent who said it will be a good time to sell. Only nine per cent thought it was a good time to buy and sell.

People living in Wales and the East of England were the least likely to say that prices are set to increase.

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  • lancelot69  |  January 02 2013, 3:37PM

    Another thing, stats provided by the land registry do not give a correct account for the number of houses sold and averages of how much. Repo's are higher than ever, sold cheaply which then decreases the values of surrounding properties which is another factor to house prices falling. Why hide the truth? Land registry should include everything in reports

  • lancelot69  |  January 02 2013, 3:30PM

    Quote '' Halifax found evidence that the market will remain fairly sluggish'' What on earth are they talking about? What evidence did they 'find'? Why would house prices rise if the market is sluggish, people reduce house prices in order to sell. Those who don't reduce simply won't have much luck selling. I do feel sorry for those in negative equity who have to sell and stump up the shortfall. Halifax for one should never offer mortgages with such low deposits So Halifax, how many repo's have gone through year on year? Those stats would be more of interest than a silly story on 'confidence' house prices will rise