Homeowners losing confidence in value of their property - research

Homeowners are becoming increasingly uncertain about the value of their property, research suggests.

A new House Price Confidence Index, launched by marketing consultancy unchained.marketing and using YouGov research, asks around 13,000 respondents if they think the price of their home will be higher, lower or the same in a year.

Respondents can also say they don’t know.

YouGov has asked the question of its 350,000 members every week since 9 July 2017.

The research suggests house price confidence reached its peak in February 2022 at a net score of 25.3%.

The index has progressively eroded since, reducing to a low of a net positive confidence of 1.36% as of 3 September, a lower score than in lockdown. 
 

There has been an overall increase in uncertainty, from 15.5% in July 2017 to 20.7% in September 2023. It now sits steadily above one in five people, the research shows.

Those in studio/flat/apartments and maisonettes have the most positive outlook, and those in terraced houses have a negative outlook, according to the index.

Meanwhile, homeowners with properties worth between £700,000 to £899,000 have the most positive outlook, with the lowest positivity amongst those in homes between below £299,000 and above £900,000.

Regionally people in London, Yorkshire and the Humber, and the South East have the most positive outlook with the lowest positivity in East Midlands and North East.