propertytalk Live! - 'Look to 2012 and beyond for house price growth'

propertytalk Live! - 'Look to 2012 and beyond for house price growth'

People have a positive outlook on house prices over the medium and long term, with a weaker outlook for the next 12 months.

That is the finding of the latest London School of Economics House Price Expectations survey, carried out with leading London estate agents John D Wood & Co.

The survey, conducted to gauge people's current perspective on the UK housing market over the next 12 months, five years and 10 years was sent to John D Wood & Co's current and prospective customers, most of whom are interested in property within Central London.

Respondents were asked to think about a hypothetical house in Central London worth £1million and to state their view on whether values will go up or down over 12 months, five years and ten years, ignoring inflation.

Some 43% of respondents were "certain" house prices will rise over the next 10 years, 26% were "certain" they will go up over the next five years with only 8% certain that house prices will rise over the next 12 months.

Respondents were asked to quantify their perceived house price increases with answers split according to whether they rented their current home or were owner occupiers.

The results demonstrate how personal circumstances have a bearing on perceptions of the housing market with renters emerging as having a more pessimistic view on house price increases than owner occupiers.