Zoopla.co.uk: UK Housing Market Confidence Wanes -- LONDON, July 20, 2011 /PRNewswire/ --

Zoopla.co.uk: UK Housing Market Confidence Wanes -- LONDON, July 20, 2011 /PRNewswire/ --

- According to Zoopla.co.uk housing market confidence is down in all regions except London and the South East; only 57% of customers expect house prices to grow over the next 6 months -

The number of homeowners who expect house prices to rise over the next six months has fallen over the last quarter, according to the latest Zoopla.co.uk Housing Market Sentiment Survey. 57% of homeowners now believe prices are set to climb, compared to 59% in March.

Confidence has waned over the second quarter of 2011 due to continued lending constraints and economic uncertainty. Despite the quarterly drop in confidence, homeowners are still more positive now than they were back in January when only 54% of homeowners believed prices would rise. However, these figures are still significantly below the peak in early 2010 when 81% of British homeowners expected property prices to rise.

The drop in confidence has also affected the amount by which homeowners believe house prices will rise over the coming six months. According to the 4,146 homeowners surveyed by Zoopola.co.uk, house prices are expected to rise by an average of 2.6% over the next six months, down from the 2.8% predicted three months ago.