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Half of UK homeowners anticipate house price growth across 2016

Across 2016, 50% of UK homeowners anticipate their property to increase in value, according to latest research from Clydesdale and Yorkshire Banks.

These results highlight the stability and levelling out of the property market, with the research revealing that confidence in the property market has doubled since 2013.

The findings also revealed that just 2% of the UK population are concerned that their home will decrease in value, and 48% anticipate no change at all.

However, these figures unsurprisingly vary according to location. London remains the key property hotspot, with 73% of those surveyed confident in escalating prices in the capital, with no-one believing that prices would see a downturn across 2016.

Contrastingly, in the North West, just 33% of respondents believe that their property will witness house price growth across 2016, with 65% anticipating no change at all.

Steve Fletcher, Director at Retail Banking at Clydesdale and Yorkshire Banks commented: “There are a number of different factors which have played their part in the ongoing recovery of the property market. The Bank of England base rate has remained low and there has been steady growth in property prices and this has been reflected with sustained confidence of UK homeowners.”

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