Property market confidence on the increase
14th November 2013
New research from Clydesdale and Yorkshire Banks today (8th November 2013) highlighted that confidence is starting to return to the property market.
Almost half (48%) of those surveyed as part of the Housebuyers Research believe that the value of their home will increase over the next 12 months. This is a marked increase from just 25% six months ago and 18% in April 2012.
| Stay the Same | Increase | |
|---|---|---|
| Oct 2013 | 49% | 48% |
| April 2013 | 66% | 25% |
| April 2012 | 66% | 18% |
Andrew Pearce, Retail Director for Clydesdale and Yorkshire Banks, said: “It is encouraging to see optimism returning to the property market with a significant increase in the number of people who believe the value of their property will increase.”
London continues to be the most optimistic region with 63% predicting an increase in house price. The Scots are the least optimistic - just 35% of those surveyed said they were expecting a price increase during the next year.
The most significant upsurge is in the East where 50% of homeowners now predict an increase in the value of their home. Only 14% predicted an increase in April 2013.
| Region | Increase - Oct 2013 | Increase - April 2013 |
|---|---|---|
| London | 63% | 53% |
| South East | 56% | 30% |
| South West | 56% | 30% |
| East | 50% | 14% |
| UK average | 48% | 25% |
| Midlands | 45% | 25% |
| North West | 42% | 17% |
| Yorkshire | 41% | 17% |
| Wales | 36% | 20% |
| North East | 36% | 19% |
| Scotland | 35% | 20% |
| Men | Women | Average | |
|---|---|---|---|
| Oct 2013 | 54% | 42% | 48% |
| April 2013 | 29% | 21% | 25% |
| April 2012 | 22% | 16% | 18% |
Men remain more confident than women when it comes to the value of their home. The latest research shows more than half of men (54%) believe their property will increase in value over the next 12 months compared to 42% of women.
Clydesdale and Yorkshire Banks, which have seen mortgage growth of 7.5% in the last 12 months, are currently providing a range of fee free mortgage offers*, waiving arrangement fees for customers looking to buy a new home, refinance their existing mortgage with the Banks or switch their mortgage to Clydesdale or Yorkshire Bank. The offers are expected to run until December 2013.
Full details of Clydesdale and Yorkshire Banks are available by visiting www.cbonline.co.uk or www.ybonline.co.uk, or customers can visit their local branch or contact 0800 22 24 26 for Clydesdale Bank or 0800 20 21 22 for Yorkshire Bank.
*Terms and conditions apply - in branch, online or over the phone.
You can find impartial information and guidance on money matters on the “Money advice service” website.
Clydesdale Bank is covered by the Financial Services Compensation Scheme (FSCS), Find out more.