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Price expectations are finely balanced

More than a third of Britons believe house prices will continue to

rise over the next three months, according to research by The

Mortgage Lender.

Its property pulse index shows that 37 per cent of people expect

prices to go up, 29 per cent anticipate them to stay the same, 23 per

cent expect a fall and 11 per cent do not know.

Scots are most confident about house prices, with 54 per cent

predicting a rise while just 14 per cent expect the market to tumble.

However, people in the South-east were less optimistic, with 36 per

cent expecting prices to rise compared with 29 per cent anticipating

a downturn in the next quarter.

Londoners were the most uncertain about future house prices, with 22

per cent saying they did not know which way prices would go compared

with 7 per cent in the South-west and 7 per cent in the east.

TML managing director Tim Kirby says the figures go against the

picture projected by industry pundits of a gloomy housing market.

He says the gloom does not extend across the whole of the UK and

accuses industry pundits of being too London-centric and placing too

much emphasis on the link between the housing market and the economy.

The index asked 2,000 people what they thought would happen to the

housing market in the next three months.

Kirby says: “The overriding factor I can see coming out of the

research is that consumers believe that property prices will increase

over forthcoming months, contradicting widespread industry

speculation that the bubble is about to burst.

“The difference between the regions reflects how the market has

fared, as we can see from the optimism of the north compared with the

confusion displayed by those in the capital.”


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