House Price Rises May Prompt Growth In Sales

Third More People Think Time Is Right To Sell

27.04.2015

More homeowners are expected to put their properties on the market as prices push upwards, research suggests.

A survey by Halifax has found consumer confidence is at a four year high, as nearly six out of ten (59%) people think next year will be a good time to sell their property.

Only a quarter (26%) of people believe it will not be a good time to sell, meaning a third more people (33%) are considering selling – the highest recorded margin since the survey started in 2011.

The research has been welcomed in the face of concerns that there is a lack of homes on the market for buyers to choose from.

Confidence is slightly lower for potential buyers – 53% of people believe it is a good time to buy, whereas 32% do not. The difference of 21% has fallen slightly, down from 26% in December.

The main barriers in the way of home ownership are currently the ability to raise a deposit, and concerns over job security. Only 12% of people are concerned about interest rises as a barrier to home ownership.

Expert Opinion
It is very welcome to see that confidence is growing in the housing market, with such positivity clearly leading to a higher number of people not only seeking to get on the property ladder but also looking to make a further step up it.

"Plenty of obstacles remain in relation to home ownership, but we would urge anyone in a position to consider such a step to ensure they carefully consider all aspects before taking the plunge. Central to the process is speaking to specialist conveyancing lawyers, who can provide guidance on the process they face when both selling and securing their new home."
Helen Hutchison, Associate