Brits confident of house price growth

12th August, 2005

UK consumers remain confident that their homes will continue to increase in value, despite concerns about the current state of the market, new research has revealed.

House prices have been stagnating for months following last year's rises in interest rates but homeowners are still showing faith in their properties claims Prudential's research.

With most Brits thinking that houses are a real investment for the future, most UK consumers have house insurance policies to protect their homes.

Though the short-term picture might not be too encouraging, homeowners are still confident that property will prove a sound long-term investment, and should protect homes accordingly.

The survey 's results also indicated the nation might be starting to borrow less.

'The news that people are starting to save more and borrow less is good,' said Prudential's Angus Maciver. 'It seems that at last the message about the need to plug the worrying savings gap may be sinking in.

'As a nation, we still have a long way to go to address this issue, but the fact that people are starting to think about it and get their finances under control, is a good start.'

 

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