Consumer confidence is back as figures show increasing faith that house prices will rise.
Expectations for an increase in house prices in the UK capital soared again in October – to their highest level in six months.
Economic growth plus a potential delay in interest rate rises, as well as the fact that the Liberal Democrats have distanced themselves from the mansion tax are factors that could have contributed to this confidence. However, price growth overall remained lower than the record high in May.
Data showed that around 6.2 percent of UK households plan to buy a property in the next year and that mortgage borrowers were the most positive that prices would rise over the following year.
This is good news – and shows that despite the announcement of a mansion tax by Labour leader Ed Miliband at his party conference, faith in the London property market has not abated. We believe that bricks and mortar in prime London is a safe place for your money and a great long-term investment – plus of course a fabulous home!
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