Huge u-turn in consumers' house price outlook

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More than half of consumers now expect house prices to be higher this time next year, a survey suggests, representing a huge change in sentiment from earlier in 2009.

According to the latest Rightmove Consumer Confidence survey, 54% of consumers now expect average house prices to be higher in 12 months' time. A similar study conducted in Q1 this year suggested 69% expected prices to be lower at that time. Just 11% of those surveyed expect house prices to fall over the next year. The proportion of respondents believing it is currently a good time to buy has held steady throughout the year at around 70%. The number of those feeling it is a bad time to sell a property remains high at 67% of respondents, though sentiment has shown a modest improvemen...

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