House-buying optimism is on the up, according to research from Santander Mortgages. Ten per cent of Britons (5.1m people) think they will successfully buy a new home within the next 12 months. One-third (33%) of those are banking on assistance from the Help to Buy scheme in order to realise their dream.
Confidence is highest in London where 20% believe they will purchase a home within the next year; it is lowest in Wales where the corresponding figure is just 2%.
In terms of age, it's the youngsters who are leading the field. Eighteen per cent of those in the 18 to 34 age bracket declare themselves likely to buy, compared with 9% in the 35 to 54 bracket, and just 5% of those who are 55+.
The latest residential market survey by the Royal Institution of Chartered Surveyors (RICS) reveals the statistics behind the optimism. The number of homes sold in the three months to September 2013 was at its highest level since November 2009.
House prices continued on their upward spiral during the period, with 54% more chartered surveyors reporting increases rather than decreases.
New buyer enquiries were also buoyant; a net balance of 49% of surveyors reported an increase here, a trend which RICS attributes to the Help to Buy scheme. However, only 10% of surveyors received new instructions to sell, demonstrating a worrying imbalance between supply and demand.
Meanwhile, Rightmove believes that its latest figures show that, with the exception of London, there is no risk of a house price bubble. London, however, is still giving cause for concern. House prices in outer London are now more than double those in the rest of England and Wales, even though average wages are only 60% higher. In central London, asking prices are about to reach the iconic Ј1m level: we're already at Ј937,110.
Asking prices in London are nearly Ј30,000 higher than their previous record, and are 13.8% higher than this time last year. Maybe the London optimism identified by Santander is a tad misplaced.
Confidence is highest in London where 20% believe they will purchase a home within the next year; it is lowest in Wales where the corresponding figure is just 2%.
In terms of age, it's the youngsters who are leading the field. Eighteen per cent of those in the 18 to 34 age bracket declare themselves likely to buy, compared with 9% in the 35 to 54 bracket, and just 5% of those who are 55+.
The latest residential market survey by the Royal Institution of Chartered Surveyors (RICS) reveals the statistics behind the optimism. The number of homes sold in the three months to September 2013 was at its highest level since November 2009.
House prices continued on their upward spiral during the period, with 54% more chartered surveyors reporting increases rather than decreases.
New buyer enquiries were also buoyant; a net balance of 49% of surveyors reported an increase here, a trend which RICS attributes to the Help to Buy scheme. However, only 10% of surveyors received new instructions to sell, demonstrating a worrying imbalance between supply and demand.
Meanwhile, Rightmove believes that its latest figures show that, with the exception of London, there is no risk of a house price bubble. London, however, is still giving cause for concern. House prices in outer London are now more than double those in the rest of England and Wales, even though average wages are only 60% higher. In central London, asking prices are about to reach the iconic Ј1m level: we're already at Ј937,110.
Asking prices in London are nearly Ј30,000 higher than their previous record, and are 13.8% higher than this time last year. Maybe the London optimism identified by Santander is a tad misplaced.
gibbs-gillespie
Tel 08002425255 
renttoownproperties@consultant.com
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