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New Research Reveals Positive Property Market

29 January 2016

The continued confidence in the UK property market was highlighted today (29 January 2016) with new research revealing that half of UK homeowners anticipate an increase in the value of their property over the next 12 months.

The annual Housebuyers Research from Clydesdale and Yorkshire Banks underlines the stability and levelling out of the market as the latest figures show confidence has doubled since 2013 and is only slightly less (4%) than it was in 2015.

The new findings also show that only 2% of the population are concerned that their home will decrease in value while 48% anticipate no change.

Confidence in the Property Market:

  Jan 2016 Jan 2015 Jan 2014 Jan 2013
Increase 50% 54% 48% 25%
Stay the Same 48% 44% 49% 66%
Decrease 2% 2% 3% 9%

Steve Fletcher, Director, Retail Banking at Clydesdale and Yorkshire Banks, said: “There have been great changes within our property market and our latest research shows a sustained level of confidence in property values over the past three years.”

London remains the key property hot spot with almost three quarters of those surveyed (73%) confident in escalating prices in the capital and no-one predicting a downturn in property prices.

In contrast only a third of respondents in the North West (33%) believe their property will increase in value in 2016, with 65% believing there will be no change and 2% fearing a decrease.

Region Increase Stay the Same Decrease
London 73% 27% 0%
South East 64% 34% 2%
East 60% 38% 2%
South West 52% 44% 4%
UK average 50% 48% 2%
Midlands 43% 56% 1%
Yorkshire 43% 54% 3%
Scotland 43% 51% 6%
North East 42% 49% 9%
Wales 36% 64% 0%
North West 33% 65% 2%

Steve Fletcher added: “There are a number of different factors which have played their part in the ongoing recovery of the property market. The Bank of England base rate has remained low and there has been steady growth in property prices and this has been reflected with sustained confidence of UK homeowners.”

Clydesdale and Yorkshire Banks have a range of competitive mortgages to suit different needs from those buying their first home to those moving into their dream property. The Banks also recently launched a new Home Mover Mortgage specifically designed to help those struggling to take the next step up the property ladder.

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