Optimistic homeowners expect price rises
Posted: 19 Jul 2006 10:57:46 GMT
Britons are six times more likely to believe that their local area will outperform the national housing market than trail behind it, according to new research.
A study by propertyfinder reveals that most of these optimistic homeowners are in the belief that their district is in some way "special".
Many are also convinced that keen property investors will send house prices soaring, while others are sure that more and more people are intent on living in the area.
According to Nicholas Leeming, director of propertyfinder, people seem to be viewing their own area through rose-tinted spectacles.
"People mistake general improvements brought about by economic growth and a healthy housing market for special local factors favouring their district," he added.
Mr Leeming has drawn particular attention to the misconception that property investors will propel house prices upwards, as only ten to 15 per cent of buyers are actually in the business of property investment.
More generally, however, the research from propertyfinder indicates that confidence in the housing market steadied in July after a somewhat unsettled month in June.