Yorkshire Bank's latest housebuyers' Survey shoes nearly two thirds of adults are confident tha...
Yorkshire Bank's latest housebuyers' Survey shoes nearly two thirds of adults are confident that the value of their home will increase in the next 12 months.
This measure of confidence has increased 13% over the last quarter and has offset some recent industry reports that have reflected a more pessimistic view.
The report showed that just 3% of people think the value of their home will fall, which has halved during the last quarter.
Adults in the South West were found to be the most optimistic about the value of their home increasing, 78% thought the value of their property will grow – the figure is up 18% on the last quarter. This is almost double the number of people in Wales and Scotland who think the same.
Looking ahead confidence remains high with 32% of 25-34 year olds looking to buy or sell property in the next 12 months.
London was found to be the current hotbed of the property market with well over a quarter (28%) believing they will buy or sell property within the next year.
In terms of mortgage choice a standard repayment mortgage was the most popular with over a quarter of people opting to choose one if they were taking out a home loan in the near future.
Interestingly one in ten people would like a mortgage with an equity release option, so that they could benefit from their home's increasing value without having to sell it. Men were found to be almost twice as likely to request this as women.
The key driver to sell or buy property was found to be better job security (11%), together with a promotion or pay rise (11%).
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