How are house prices going to fare in 2017?

How are house prices going to fare in 2017? [Photo: apomares via iStock]

The property market has been performing well for the past few years now, with prices rising pretty steadily year on year after economic performance returned to a state of normality after the financial meltdown that struck in 2008. 

This is something that has filtered down to buyers and sellers in the market, and sentiment has changed somewhat in the last few years to show that more and more people now feel confident about the future prospects of the market. And this is something that looks set to continue for the year ahead. 

According to new data released this week by OnePoll on behalf of Freehold Sale, over the course of the coming 12 months, as many as four in ten people in the UK believe that the cost of homes will rise, showing that there's a rising belief that house prices are on a rather constant upward trend. 

When asked how much they believe prices will increase in that period, just under half of the market (48 per cent) believes that homes will cost as much as ten per cent more than at present in the coming 12 months. 

And although it is market health that has pushed prices higher and higher over the last few years, the data suggests that there has been a change in that attitude over the last few months, and many now think that as well as the health of the market, political uncertainty will have something of a part to play. 

Of those surveyed, some 43 per cent said they believe that the price of properties will increase because of the fact that the UK is readying itself to leave the European Union (EU) and the knock on effects of Brexit. 

It was also discovered that there are more people now looking to get themselves a brand new home in the UK rather than looking towards existing stock, as they believe that it offers them a better deal. In a group mostly made up of 25 to 34 year olds, some 31 per cent said that they would like to get onto the ladder via a new build in the coming 12 months.