North-South divide over house price predictionsMonday, 30 January 2012 11:26
More Brits than ever are expecting house prices to rise in the next 12 months, new figures suggest.
According to a Rightmove survey, 66 per cent of consumers believe property will hold its value or see an increase over the next year, compared with 62 per cent of people polled a year ago.
But the property website said that a closer look reveals some significant regional variations and a clear North-South divide.
Six out of 10 home movers said they think the UK is currently a buyer’s market, while only one in seven thinks it’s a seller’s market.
While one in three Londoners expects house prices to be higher 12 months from now, just a fifth of people in Wales believe the same.
And at town and city level, the contrast is even more apparent, with 40 per cent of home movers in South West London predicting prices to be higher by next year compared with just 14 per cent of people in Blackpool.
Nineteen of the top 20 towns where residents expect prices to grow are located in the South and 17 of the 20 locations where people are predicting price drops are in the North, Rightmove said.