View more on these topics

Just 14% of Britons think now is a good time to sell

Only 14% of Britons believe now is a good time to sell property, the latest Halifax housing market confidence tracker shows.

That is compared to 50% of people who think it would be a good time to buy over the next three months, while only 15% were positive about both buying and selling in the next 12 months.

The survey also shows more Brits expect house prices to rise rather than fall over the next 12 months – one in three predicted an increase in prices while 23% expect a fall.

The majority of Britons think that any house price movement over the next year will be relatively small with more than half, 57%, expecting any change to be between +5% and -5%.

A further 26% think that house prices will remain the same, while 24% believe there will be increases and decreases of 5% or more.

The research also reveals consumers’ concerns about the outlook for the economy, with 26% of respondents expecting their personal financial circumstances to worsen over the next few months and a further 54% anticipating no improvement.

Furthermore, 52% of those asked cited worries about job security as one of the main hurdles to buying property, while household finances (31%) and concerns about rising interest rates (22%) also ranked highly as barriers to purchasing a house.

The research also shows that 50% of consumers think that raising a deposit is a major barrier to home buying, while 27% think the general availability of mortgages is one of the main obstacles to buying a property.

Suren Thiru, housing economist at Halifax, says: “More Britons expect house prices to rise rather than fall over the next year. This is likely to partly reflect the relatively low burden of servicing mortgage debt.

“However, confidence in the UK housing market is likely to remain subdued over the coming months, given consumers’ concerns over the outlook for the UK economy in general, and the jobs market in particular.”

The survey was conducted by Ipsos MORI on behalf of Halifax and interviewing took place from April 8-14 2011.



Change on the way for underwriting

Insurance providers could be forced to underwrite policies at the pointof-sale not point-of-claim under the terms of an insurance bill passing through parliament. The Consumer Insurance (Disclosure and Representations) Bill had its first reading in the House of Lords on May 16. It is due to have its second reading today, during which its details […]


Jealousy is leading to criticism of bridging

There is an element of jealousy that inspires the sometimes negative perception of the short-term lending market sold to intermediaries by some industry experts. The most prevalent gem suggests bridging finance and other short-term lending is the last bastion of professionals looking for a substitute for sub-prime lending. This is nonsense as the purpose of […]


You cannot rely on luck for protection

A lucky friend of mine won a pair of cinema tickets recently, then a bottle of wine. But the thing about luck is that you can’t rely on it. With the cost of living and inflation on the up, many people are not feeling lucky at the moment. Consumers are dipping into their savings to […]


News and expert analysis straight to your inbox

Sign up