Consumer confidence in housing market growing

Increased activity in the local housing market assisted by the Government backed Help to Buy scheme and a greater availability of higher loan-to-value mortgages has led to a growth in consumer confidence, according to local leading estate and lettings agency RA Bennett & Partners.
By The Newsroom
Published 25th Feb 2014, 11:35 BST

R A Bennett has offices in Warwick, Leamington, Stratford and Solihull.

These findings are confirmed in the results of the third exclusive survey Countrywide plc, the UK’s largest property services group, conducted with YouGov.

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RA Bennett & Partners is part of Countrywide plc, who conducted the study to investigate important factors affecting the current housing market in Great Britain.

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The YouGov research surveyed over 2,000 Great British adults and its findings identified improved consumer confidence in the housing market when compared to the results of Countrywide plc’s lastsurvey in November 2012.

The research showed that 51 per cent of homeowners in Great Britain think the value of their current home will increase in 12 months time, an increase of 17 per cent compared to the November 2012 survey results.

A third (34 per cent) of respondents in the Midlands indicated that they are least likely to compromise on location in order to buy their first or next home.

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The results also revealed that in Great Britain over half (56 per cent) of 18-24 year olds believe they are likely to use the Help to Buy scheme compared to around a quarter of those aged between 25-54 years.

Ian Whitfield, senior branch manager of RA Bennett and Partners in Warwick commented: “The results of the YouGov survey confirm what we see on a daily basis. The housing market is moving forward at a steady pace and consumers are more enthused with the current housing market conditions. The local housing market in Leamington and Warwick is buoyant and properties that are well presented and correctly priced are selling well. However, demand from buyers for property in the local area is outstripping the supply of property coming on the market and due to this we now need more properties to sell.

“We expect to see more first time buyers and homeowners enter the housing market this year, as the property market and wider economic conditions show further signs of improvement and these results would back up that view.”

For further information contact Ian Whitfield in the Warwick office on 01926 493 142 or Rachel Hatton in the Leamingtonoffice on 01926 427 988 or email [email protected] or [email protected]

Related topics:GovernmentLeamington