UK's House Price Sentiment Improves To Record High: Markit




Confidence among British residents regarding the value of their homes increased to the record high in February, data from a survey by Knight Frank and Markit Economics revealed Friday.
The headline house price sentiment index, which measures households' views of the current value of their houses, climbed to 60.7 in February, hitting the highest level since the survey began. The index has now stayed above the no-change 50 mark, which separates growth from contraction, for the eleventh successive month.
Property owners in every region of the UK perceived that the value of their home rose in February, led by London, data showed.
At the same time, the outlook component of the survey jumped to an all-time high of 74.9 in February from 72.3 in January, indicating that prices are expected to rise at the strongest rate since the index began in 2009.
The survey showed that households in every region expect that the value of their home will rise over the next twelve months.
"The recovery in the housing market reflects the increasing economic confidence in the country - which recently resulted in an upgrade to economic growth forecasts - coupled with the assurance that interest rates will remain low until next year at least," Gr?inne Gilmore, head of UK residential research at Knight Frank, said.


News are provided by InstaForex.