By Claire West
Rightmove’s latest Consumer Confidence Survey of more than 33,000 home-movers finds that the proportion of respondents expecting average asking prices to be higher a year from now has risen to 29%, up by 7 percentage points on a year ago.
Despite this confidence more than one in five (22%) of home-owners who bought in the six years between 2007 and 2012 believes that their property is now worth less than they paid for it.
17% of those 2007-2012 buyers who believe their property has declined in value since purchase also state that they are currently in negative equity, believing their outstanding mortgage balance to be higher than the current value of their property.
This rises to 21% amongst those who bought in the peak year of 2007.