Brits have confidence that house prices will rise

British consumers in general are showing that they now have greater confidence in the housing market than they have done previously, as more expect to see prices rise rather than fall in 2012, giving a boost to a flailing market.

According to the results of a new survey conducted by the Halifax, 29 per cent of those living in the UK expect to see house prices take an upturn in 2012.

In contrast, only 22 per cent say that they feel house prices will see any sort of significant fall over the same period.

Those living in rented accommodation fear the worst however, with 61 per cent saying that they expect rents to rise further over the course of this year.

It was reported last year by LSL Property Services that rental prices grew for nine consecutive months up until November.

Martin Ellis, housing economist at Halifax, said: "The modest improvement in consumer confidence in the outlook for house prices reflects the resilience of the UK housing market over recent months in the face of a weak economic recovery and the deterioration in the outlook for both the UK and global economies."

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