Strongest November price growth in the South East

Households in all UK regions perceived that the value of their home increased in value in November, with those in the South East and London noticing the largest increase.

Out of 1,500 households surveyed by Knight Frank, 21% said the value of their home had increased over the last month, with only 4% claiming their property’s price had fallen.

It has also been revealed that households in every UK region expected their property’s value to rise further in the next 12 months.

In the survey, it was mortgage borrowers who were the most confident about house prises rising in the coming year.

This strong housing market has been aided by continually low interest rates, good economic fundamentals, and pricing in some areas being underpinned by a shortage of stock.

Gráinne Gilmore, Head of UK Residential Research at Knight Frank, said: “Households across all tenures expect house prices to continue to rise over the next year”

“The survey also highlights the regional variations in future house price expectations, with the future HPSI for households in the South East overtaking London by the largest margin in more than a year,” she added.

The data also revealed that homeowners in the South East are more likely to expect their property’s value to rise in the year ahead than at any other time since the survey began back in 2009.