Housing confidence bounces back

25th Jan 2010 08:21

Confidence over the UK housing market is surging back according to the latest survey from online estate agent Rightmove. The number of respondents expecting a rise in prices this year was 53% compared to just 10% this time last year. Miles Shipside, commercial director at Rightmove, said the number was a surprise given the uncertain economic background. "Given the looming election and the talk of pending austerity packages ahead, this consumer survey highlights a surprisingly positive property price outlook," he said. He added that the indicator is important as price expectations are key to any housing market recovery. Rising prices and by record low interest rates had boosted the indicator he suggested, though he added confidence is still well below the levels before the recession.