Biased homeowners confident their property’s value will increase in 2012
A significant number of homeowners believe their home will “buck the trend” and increase in value during the first half of 2012, according to a recent survey by Zoopla.co.uk.
55 per cent of homeowners expect house prices to increase overall, down 4 per cent quarter-on-quarter. Despite this drop, the majority of homeowners are confident the value of their own property will rise and outdo other properties in the area.
Just 24 per cent of those surveyed believe the value of their home could drop, while 29 per cent of expect house prices in their area will decrease.
These figures come around the same time as The Royal Institute for Chartered Surveyors deemed unrealistic house prices a contributing factor to the housing transactions.
Ian Perry is the RICS housing spokesperson:
“The increasing number of prospective sellers who placed their homes on the market in December is a positive development as a lack of stock has been a big issue in some parts of the country.
"But with sales expectations remaining flat, it is important that vendors are realistic in their pricing if they wish the sale to go through in good time."¹
Content correct at time of publication