Home buyer confidence reaches new high

Buyer confidence in the growth of housing prices has reached a new high with 70 per cent of people looking for a home believing that its value will increase throughout this year, according to a new study.

Research by Yorkshire Bank shows that buyer confidence has reached a 20-month high because last year only 55 per cent of people thought the same thing.

Gary Lumby, head of retail at Yorkshire Bank, said: "Buyers who are now looking for properties they can do up are using this uncertainty to their advantage by trying their luck with a lower initial offer - and only raising it if necessary."

He said that if these low offers start getting accepted by sellers then we may see prices leveling off.

More than a fifth admitted that they would go low on offers to buy a house while 12 per cent would immediately surpass the asking price to get their perfect home.


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