Property market confidence ''on the up''

The UK''s property market has seen a rise in confidence since the corresponding interest rate rise, according to the latest figures.

Propertyfinder.com has reported that over 80 per cent pf Brits believe house prices will continue to rise and reap good returns for property investors who want to sell some of their properties.

Warren Bright, the chief executive of the website, said: "People have faith in the value of bricks and mortar and as long as the UK housing market continues to experience such drastic supply issues, this is unlikely to change significantly."

This month there has been far more balance between the number of buyers and sellers expecting house prices to rise with the average predicted rise being 6.4 per cent. This means sellers are now less overconfident and means property transactions may go up.

However despite this confidence it seems many are more occupied with the lack of affordability of property due to interest rate rises.


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