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More than two-thirds of homeowners expect to profit from buoyant market

Rocketing numbers of UK homeowners view the buoyant housing market as a way of making a profit, according to Britannia Building Society.

Results from its homeowners confidence survey reveal the number of people who believe it possible to make short-term profits from owning a house has shot up to 69 per cent from 44 per cent last year. While 45 per cent of homeowners think now is a good time to sell and that moving frequently is a good way to make money. Britannia says this is the highest level for five years.

On average, homeowners believe the value of their house has gone up by 4 per cent in the past year, to £83,500 from £80,800, and 10 per cent claim they are considering moving within six months.

The survey also shows that 70 per cent of homeowners have moved more than once but reveals that hardly any of those have moved outside their area of birth.

Despite the optimistic outlook among homeowners, the survey found that 30 per cent of homeowners do not have savings, 20 per cent worry about paying their bills and over 30 per cent do not feel secure in their job.

Britannia sales & marketing director Gerald Gregory says: “The confidence shown in the survey has been reflected in our high mortgage sales over the last six months.”

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