Still banking on homes
BRITONS remain confident in the housing market with almost two-thirds of people expecting prices to continue increasing, research showed today.
About 62% of people said they thought the property market would continue to rise in value, with just 21% of people predicting it would stagnate, fall in value or even crash, according to the Association of Investment Companies.
But wealthy consumers who regularly invest money in shares were less confident, with only 44% expecting house prices to continue rising, while 48% think they will stagnate or fall.
People are also feeling the strain from five interest rate rises since August last year, with 30% of people with a buy-to-let property saying their investment was now less profitable, rising to 43% among people who regularly invest in shares.
Also, 7% of people said they were losing money on property investments either due to falling house prices or because rising interest rates had pushed mortgage repayments above their rental income .
