Posts filed under ‘Sentiment Survey’

Zoopla Housing Market Sentiment Survey Q3 – confidence up on last year

Homeowners are more confident now about the outlook for the British property market than they were at this time last year, according to the latest Zoopla Housing Market Sentiment Survey.

Two thirds of homeowners expect British house prices to rise over next six months, with average homeowner predicting a 3.4% increase (4.7% increase in London). A possible explanation for this is late summer and early autumn are busy periods for the property market which can lead to a boost in homeowner confidence.

The fact that optimism is up over last year is a good sign, however, confidence levels remain well below the levels seen in late 2009 and early 2010.

Nearly two-thirds (63%) of homeowners surveyed believe that house prices in their area will rise over the next six months, up from 59% at this time last year. Only one in five (21%) homeowners expect property prices to fall during the next six months, down from (26% last year.

And the level by which homeowners expect house prices to rise has also improved over last year with the average homeowner now predicting a 3.4% rise in their local property prices over the next six months, up from 2.7% last year. Curiously, homeowners remain more confident about the performance of their own homes (expecting them to rise by 3.8%), than those of their neighbours.

London’s homeowners are the most optimistic about the state of the British property market. Four in five (82%) owners in the capital believe prices will rise in their area over the next six months with average growth of 4.7% expected over this period. Owner in Northern Ireland are the least optimistic with just 53% expecting property prices to rise by March next year.

Methodology

  • Zoopla invited registered users of Zoopla.co.uk to participate in this study.
  • The survey was fielded from 24th to 30th September 2012.
  • There were 7,117 total respondents of which 6,495 of these were homeowners. Statistics based on a sample of this size are accurate to within less than +/- 1.0% with 95% confidence, if the sample is drawn at random from the population it intends to represent.
  • These respondents represent the perspective of the Zoopla.co.uk user community, and could be considered to represent the population of people interested in the UK residential property market.
  • All statistics are based on the full sample unless otherwise noted.

October 16, 2012 at 1:59 PM 1 comment

Housing market confidence warms up after after frosty end to 2010 – Zoopla.co.uk

After almost 9 months of falling confidence and falling house prices, it looks like the property market is now starting to turn a corner. Falling home values have created attractive buying opportunities and with continued low inventory of property for sale, homeowners are increasingly expecting prices to rise in their local area.

We still remain somewhat short of the confidence levels seen in early 2010 but there has been a clear improvement over the previous quarter and this is welcome news.

Key findings from our latest Housing Market Sentiment Survey:

  • 59% of homeowners now expect house prices to rise after 8 months of price falls
  • Only 1 in 4 expect property values to decline further over the next six months
  • Growing confidence leads to a rise in owners planning home improvements in 2011

Three out of five (59%) homeowners in the UK expect house prices to rise over the next six months, according to the latest Zoopla.co.uk Housing Market Sentiment Survey. Confidence in the market outlook has strengthened from its record low at the end of last year when only 54% of homeowners expected prices to rise, but remains some way below the levels seen one year ago when four out of five (81%) expected prices to climb.

Homeowners are also more optimistic about the amount by which they expect house prices to rise in the coming months. According to 7,984 homeowners surveyed by Zoopla.co.uk, house prices are expected to rise by an average of 2.8% over the next six months, noticeably up from the 1.9% predicted three months ago. The number of respondents who expect values to drop over the next 6 months has fallen to 1 in 4 (25%, down from 1 in 3 (33%) in December.

And, in typical British fashion, homeowners remain more confident about the prospects of the value of their own home compared to those of their neighbours. On average, homeowners predict the value of their own properties to grow by 3.2% over the next six months while they expect overall prices for property in their area to rise by only 2.8%.

Improved confidence in the future of the property market combined with the arrival of spring has resulted in a rise in the number of homeowners planning to conduct home improvements over the next six months to 40% of all households. And contributing to the increased confidence in the property market is the feeling that lending conditions are improving, with 12% of respondents stating that mortgage availability is better now than 3 months ago.

The greatest improvement in confidence over the last 3 months has been in Northern Ireland where 57% of homeowners now expect house prices to rise over the next six months, up from only 42% three months ago. In England 59% of owners expect house prices to rise up from 55% three months ago and in Wales 54% expect prices to climb, up from 49% three months ago. In Scotland confidence remains unchanged from December when 63% of those surveyed expected house prices to rise over the next six months.

Methodology

  • Zoopla.co.uk invited registered users to participate in this survey which was fielded from 21st to 28th March 2011.
  • There were 9,231 total respondents. 7,984 of these were homeowners. Statistics based on a sample of this size are accurate to within +/- 1.0% with 95% confidence, if the sample is drawn at random from the population it intends to represent
  • These respondents represent the perspective of the Zoopla.co.uk user community and could be considered to represent the population of people interested in the UK residential property market. All statistics are based on the full sample unless otherwise noted

As always, please feel free to share and use this information, all we ask is that you credit the source as Zoopla.co.uk and link to either Zoopla.co.uk or blog.zoopla.co.uk. Thank you.

April 14, 2011 at 1:47 PM 1 comment

Housing market confidence hits low at end of 2010

Before you read the key results below, it’s worth us pointing out the following:

  • This survey was fielded from 29th November to 4th December 2010
  • There were 5,932 total respondents. 5,287 of these were homeowners
  • 2011 appears to have got off to a solid start indicating possible increase in confidence since the end of 2010
  • We are reporting record levels of traffic, searches and leads in early January across Zoopla.co.uk

The uncertainty around the impact on the overall economy in 2011 of the austerity measures and the continuing drought in mortgage finance availability created a toxic combination for housing market confidence in late 2010. However there is every reason to expect confidence to grow as this year progresses providing the economic outlook doesn’t worsen and banks start to loosen their lending criteria.

Here are the main results from the survey:

• 54% of homeowners expect house prices to rise, down from 81% one year ago

• 1 in 3 expect property prices to fall in 1H 2011, up from 1 in 4 three months ago

• Fewer owners plan doing any home improvements and will spend less in 2011

• 92% see mortgage financing as no easier to obtain now than 3 months ago

• Scottish most upbeat over housing outlook for 2011, N Irish far less optimistic

Homeowner confidence in the property market outlook fell to its lowest level in more than two years in December, amid concerns over the government’s austerity measures and the availability of mortgage finance. According to our latest Zoopla.co.uk Housing Market Sentiment Survey, only 54% of homeowners surveyed expected house prices to rise over the coming six months, down sharply from 63% three months ago and 81% a year ago.

According to the survey, those surveyed now expect average house prices to rise by only 1.9% over the next six months, down from a predicted 3% rise three months ago and reflecting the drop in confidence. And the number of homeowners who expect property prices to fall over the first half of 2011 now stands at 1 in 3 (33%) up from 1 in 4 (25%) only three months ago.

UK homeowners, however, curiously remain more confident about the prospects for the value of their own homes compared to those of their neighbours, with those surveyed expecting average growth in property values in their local area of only 1.9% over the next six months versus 2.5% for their own homes.

The survey also highlighted that fewer homeowners plan to carry out home improvements over the next six months, with only 37% of respondents stating an intention to do any works, down from 42% three months ago and 48% at the start of 2010. And the percentage of homeowners who plan to spend at least as much this year as they did last year on improving their properties now stands at only 68%, down from 77% at the beginning of 2010.

The survey results show just how severely the lack of access to mortgage finance is impacting the health of the property market and confidence in it. Only 8% of those surveyed believe that it is now easier to get financing than it was three months ago, with more than 9 out of 10 seeing no improvement in the availability of financing over the past three months.

Confidence in Scotland appears higher than the rest of the UK, with 63% of Scots expecting house prices in their area to rise over the next six months, although this is still down from 71% three months ago. England is some way behind at 54% whilst less than half of homeowners in both Wales (49%) and N Ireland (42%) expect house prices to rise in the next six months.

Follow this link to download the Q4 2010 Zoopla Sentiment Survey press release and graphs.

January 13, 2011 at 10:01 AM 3 comments


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