House price sentiment moderates slightly ahead of Election

LLB Reporter

Source: ©Photoshot

Study finds

Households across the UK perceive that the value of their home rose over the last month

However, the perceived rate of house price growth was lower than in April

Respondents in all 11 regions said the value of their home increased, with those in Wales reporting the strongest rises

Households in all regions expect the value of their home to increase over the next 12 months, according to the future HPSI

The future HPSI reading fell slightly in May although it remains notably higher than the post-referendum low in July last year

Oliver Knight, associate, Knight Frank Residential Research: “The recent softening in sentiment in the immediate run up to the General Election in June may be a reaction to the slight uncertainty that inevitably comes with the vote, combined with wider inflationary pressures as well as affordability concerns in parts of the country. Yet at the same time, a lack of supply of housing for sale is underpinning pricing across much of the UK.”

Tim Moore, senior economist, IHS Markit: “The latest survey data revealed that UK households continue to anticipate rising house prices over the next 12 months, but the level of confidence moderated to the weakest seen so far in 2017.

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