Homeowners expect house price gains to accelerate in the months ahead despite suffering a fall in confidence in November, according to the Knight Frank and Markit Economics House Price Sentiment Index (HPSI).

Around 22% of people thought the value of their property increased this month with just 5.2% claiming it fell. People in all 11 regions covered by the Index said they had seen price gains, but in eight of these regions they thought growth was slower than in the previous month.

However, homeowners were more optimistic about the prospects for house price growth going forward, with expectations for future gains strengthening, although they remained below the record high seen in May this year. People living in London are predicting the strongest price growth, followed by those in the south east and the east.

Grainne Gilmore, head of UK residential research at Knight Frank, said: “While positive sentiment still dominates the UK residential market, there is a clear shift towards a more moderate view of current and future price growth potential. The general downward trend in both of our indicators presages lower price growth across the UK in 2015, in line with our forecasts.”