Households in the UK perceived that the value of their home rose in June and are more confident that they will continue on an upward trend, the latest house price sentiment index (HPSI) from Knight Frank and Markit Economics shows.
Some 23.7% of the 1,500 households surveyed across the UK said that the value of their home had risen over the last month, while 4.6% reported a fall, according to the index.
This resulted in an HPSI reading of 59.5, the 27th consecutive month that the reading has been above 50. June’s reading is an increase on the 58 recorded in May and is the highest the index has been since October 2014, indicating that households believe that any uncertainty caused by the General Election has passed.
The future HPSI, which measures what households think will happen to the value of their property over the next year, rose in June to 70.5, up from 70 in May and the index report also shows that households are now more confident that the value of their home will rise in the next 12 months than at any time since December last year.
