Home buyer confidence 'returning'

Article date : 17/06/2009

Written by Tony Harrison

Confidence is returning to home buyers in the UK, new research has found, which may mean that now is a good time to take steps to boost a property's value.

The study by the Building Societies Association revealed that Britons have predicted house prices will rise by 1.4 per cent in the next year, a contrast to the 6.1 per cent fall forecast in March.

Furthermore, in June last year, consumers felt property prices would decline by 7.1 per cent.

While Paul Broadhead, head of mortgage policy at the group, said that concerns over job security may still be putting some people off from buying, he noted that the prediction was an "encouraging" sign.

"People clearly recognise that with both property prices and mortgage rates having fallen, there are potential bargains to be found meaning that now is a good time to buy," he stated.

With this in mind, homeowners may wish to follow recommendations from the Energy Saving Trust, which states that people planning to sell their home should install heating controls and upgrade to a condensing boiler to attract buyers.

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