Survey: Half of UK Homeowners Anticipate Property Values to Rise in 2016
A new survey shows a positive mindset regarding the value of property as half of the UK homeowners expect values to rise 2016. Only 2 percent of the homeowners believe that the price will fall.
The UK property market will continue to climb up the ladder as figures showed that house prices continued to double since 2013, according to data coming from the annual house buyers research report of Clydesdale and Yorkshire Banks. Furthermore, the report emphasized the UK's stability and leveling out of the property market. PropertyWire reported all of these findings in its recent post.
The new findings confirmed just 2 percent of the population feel that their home property value will decrease, while 48 percent of the population predict no change at all.
According to a 2013 survey, 9 percent of the UK population thought the property value would decrease, 66 percent anticipated no change in the value, and the remaining 25 percent thought property values would increase.
Consolidating the data from 2013 to 2015, Steve Fletcher, director of retail banking at Clydesdale and Yorkshire Banks, forecasted the stability for the UK property market, stating, "There have been great changes within our property market and our latest research shows a sustained level of confidence in property values over the past three years."
Moreover, the research posted on ybonline.co.uk also showed, "The research reveals that London remains the key property hot spot, having 73 percent of those surveyed confident in escalating prices in the capital and none predicting a downturn in property prices."
On the contrary, some 33 percent of North West respondents anticipate an increase in their property value in 2016, 65 percent believe in no change, and only 2 percent have been anxious on the possibility of decrease in their property value.
In the Scottish countryside, 43 percent said they think prices will increase, while 51 percent believe there will be no change, and 6 percent of the population says prices will decrease. In Wales, 36 percent said prices will rise, and 64 percent said prices will not increase or decrease.
It appears that the steady growth of the property value has been sustained by the confidence of UK homeowners.