UK public expects house price increase

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UK public expects house price increase

The latest Halifax Housing Market Confidence Tracker has highlighted a growing optimism among the British public that the property sector will deliver significant price increases during the course of 2012.

According to the figures, 29 per cent of Brits now believe the sector will see positive gains by the end of the year, compared to 22 per cent who feel there will be losses.

This shows a marked improvement from October last year, when a greater proportion believed the coming 12 months would result in losses rather than gains.

Martin Ellis, housing economist at Halifax, commented: "Looking forward, we currently expect broad stability in house prices in 2012, although there remains much ambiguity around this given the considerable uncertainty regarding the prospects for the UK economy."

The news follows recent comments by Ben Wilkie, editor at What Mortgage, who claimed that many people believe the record-low level of interest presently seen in the UK will not last much longer and as a result, many are taking out long-term mortgage deals in order to lock in their rates.

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