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
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.