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House Price Sentiment Index

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Estate agent Knight Frank’s ‘house price sentiment index’ shows that most households believe property prices have fallen for 15 months in a row.

The ‘this is what people really think of house prices’ survey, in conjunction with financial services company Markit, looks at how consumers perceive the value of property.

The latest index, which involved a survey of 1,500 households, shows that they believe house prices have now fallen every month since July 2010, with 21% believing that the value of their home has fallen over the last month.

However, there are some expectations among consumers that prices will rise over the next year. Households earning between £23,000 and £34,500 expect prices to fall, whilst those on higher and lower incomes expect prices to rise.

Chris Williamson, chief economist at Markit, said: “Our index adds a unique layer of information on the UK housing market, revealing what people think is happening to the value of their properties right now and in the future.

“This information is useful for many reasons. The buoyancy of the outlook for house prices in early-2010, for example, helped fuel a revival in consumer spending as home owners perceived the value of what is typically their largest asset to be on the rise.

“The reverse occurred earlier this year, as worries about the economy and widespread job insecurity led to a downturn in views on house prices. Consumer spending moved into decline as a result. The belief that house prices will fall also meant fewer people put their properties on to the market, resulting in low transaction numbers.

“The uptick in the outlook for house prices in August therefore provides a glimmer of light that prices may start to rise again, presumably supported by increasing signs that interest rates will stay low for longer, and that more properties may come on to the market.”

The sentiment index was launched in February 2009 and was jointly compiled by YouGov and Markit until last September when Knight Frank took over joint publication.

Privilege and hope?


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very interesting - i wonder how much there is in common between being optimistic and getting the promotion - you know, best foot forward and all that

and then how much does this imperil the country if the movers and shakers haven't got a f00king clue? (the true cost of moral hazard)

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  • 334 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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