17 Feb

House prices fall, but confidence is on the up

House prices fall, but confidence is on the up

House prices have shown a decline in February of this year, however, there is good news for the property market, as consumers are showing a positive move in the confidence they have in housing.

Knight Frank has reported that it surveyed homeowners across the country, with only six per cent saying that they felt house prices had risen this month. This was compared to the 20 per cent who said they felt that the value of their home had dropped.

The biggest drops were seen in Yorkshire and Wales, while London had the least significant fall.

However, there was also good news in the report, as Knight Frank said that borrowers are starting to see an increase in confidence that houses will rise in value, thanks to the continued low interest base rate.

Earlier this month, the Halifax said that 29 per cent of people expect house prices to rise this year, while only 22 per cent forecast a fall.ADNFCR-1222-ID-801296197-ADNFCR

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