According to a new survey, the housing prices are expected to rise in the New Year as the household confidence rises to its highest level in more than a year.
About four in 10 or about 38 per cent of people, who participated in the survey, expect the home prices to rise in 2013. On the other hand, just 18 per cent believe that the prices are likely to fall in the New Year. The overall price outlook balance or the difference between those predicted a rise and those who predicted a fall was at 20.
The rating of 20 is the highest recorded since the survey began in April 2011. However, Halifax found evidence the market will remain fairly sluggish in the New Year as households remain careful about spending. About 53 per cent of the persons surveyed said that 2013 will be a good time to buy. On the other hand, about 13 per cent said that it was a good time to sell the house. Only about nine per cent said that it was a good time to both buy and sell houses in the year.
Hometrack had recently said that it believes the average house price will slip one per cent during 2013.