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Wednesday 12th of January 2011
January 10, 2011    

Housing market confidence falls to two-year low

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by Kay Murchie
Housing market confidence falls to two-year low

A survey of 5,287 homeowners by online property website Zoopla.co.uk has revealed housing market confidence is at a two-year low.

More than half (54%) of those questioned said they expect house prices to rise over the first six months of 2011 - this is down from the 81% reported this time last year.

The website’s housing market sentiment survey found that the number of homeowners who expect property prices to fall over the six month period is currently at one in three, up from one in four last quarter.

Meanwhile, those surveyed expect house prices to grow by 1.9% over the six month period, down from an expected 3% rise three months ago.

Many experts have predicted that the housing market will remain subdued in 2011, due to uncertainty surrounding the economy and the ongoing mortgage rationing by lenders - something which Nicholas Leeming of Zoopla agrees with.

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