More UK house buyers are showing confidence that property prices are likely to increase in the next year, new research has found.
Indeed, according to the Building Societies Association, while in June 2008 survey respondents forecast a fall in house prices of 7.1 per cent and a decline of 6.1 per cent in March this year, rising confidence has led to a 1.4 per cent increase in property value being predicted this month.
Paul Broadhead, head of mortgage policy at the association, said: "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 added that while fears over job security may still put some people off buying, it was still "encouraging" news.
Such news may inspire Britons to invest in
energy efficiency.
Nationwide recently predicted that energy efficiency and green issues were likely to play an increasingly important role in the UK's property prices in the future.
