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Survey reveals North -South divide in homeowner confidence

Homeowners in the South of England are far more confident about the housing market than their northern cousins according to a survey by Legal & General.


The Moving Intentions survey reveals 25 per cent of Southern homeowners are confident that houses prices will increase significantly over the coming year.


This compares to just 8 per cent in the North and 14 per cent of Midland homeowners.


But those living in Greater London expressed the most confidence with 27 per cent expecting a big increase over the year.


The results are in marked contrast to previous editions of the survey as it shows confidence is growing throughout the whole of the UK.


It compares favourably to January when only 6 per cent of Southerners and 5 per cent of Northerners expected house prices to rise.


L&G retail marketing director Gareth Hoskin says: &#34These results suggest the current housing boom will maintain steam for some time.


&#34Falling mortgage rates mean mortgages are more affordable than they have been for some time and are helping to boost confidence among homeowners.&#34

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