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Majority of UK property owners believe home values won't change – Property Wire

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Some 84% of home owners in the UK think the value of their home will increase or stay the same over the next 12 months, according to new research from Clydesdale and Yorkshire Banks.


Just 16% of people think the value of their property will decrease in the next year with the majority of people, 66%), believing it will remain at the same level.


Home owners in London are the most optimistic with 39% of respondents believing their property will rise in value in the next 12 months, 56% think it will stay the same and just 6% think it will decrease.


The next most optimistic are property owners in Yorkshire where 22% think the value will increase, 64% think it will stay the same and 14% think it will decrease.


In third place are owners in Scotland with 21% thinking property values will increase, 63% think they will stay the same and 15% said values will fall.


In contrast only 10% in the East thought their home would be worth more by this time next year, 72% think prices will stay the same and 18% think they will decrease.


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The research also shows that the 16 to 24 age group is the most positive about properties rising in value with 67% confident they will increase with 33% thinking they will stay the same.


Women are slightly more hopeful about property prices than men with 85% believing the value will rise or stay the same, compared to 83% of men.


‘It is encouraging that such a high percentage of people have confidence in the property market and the value of their home,’ said Steve Reid, retail director for Clydesdale Bank.


‘Clydesdale and Yorkshire Banks offer a range of competitive mortgages and solutions for buyers who want to buy their first home or move up the property ladder,’ he added.


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