Brits expect UK property market to 'stay the same'

Those considering overseas property investment may be interested to learn that many Brits expect the UK housing market to stay the same or rise over the next 12 months.

A survey conducted by Rightmove.co.uk found that, out of 20,000 perspective home movers, 75 per cent expected the UK market to sustain its current level or increase between now and summer 2011.

People's belief that house prices in the UK could still rise is despite news that, last month, sellers began to drop asking prices.

However, the report by Rightmove.co.uk shows a drop of nine per cent in the number of people expecting house prices to stay the same or rise over the next 12 months.

Commercial director for the company Miles Shipside said: "A nine per cent drop is a significant shift."

However, Mr Shipside pointed out that with three-quarters of potential home movers still predicting prices to either remain the same or increase indicated an expectation of price stability on the UK housing market.

Last week, LettingZone reported that those looking to rent property could struggle over the next four or five years, as the number of rental properties available continued to fall short of demand.

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