'Growing faith' in Scottish housing market
Published by Assetz Property news Service - 26th April 2012
Public confidence in the housing market is on the rise in Scotland, according to a new Bank of Scotland survey.
The Housing Market Confidence Tracker showed that 33% of respondents believe that house prices will increase over the next 12 months, while only 23% expect them to decrease.
The firm revealed that its House Price Outlook (HPO) balance showed a 10% swing in people who expected property prices to rise rather than fall when surveyed last month.
The HPO balance also showed that Scottish confidence in the housing market has more than doubled from the 4% recorded in the same survey in January.
However, the figure is still lagging behind the UK average net balance of 19%, with the Bank of Scotland claiming that people living in the north of England were more pessimistic than those living in London.
The survey showed that homeowners think the current market favours buyers over sellers, with 63% believing now is a good time to purchase property.