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Consumers predict house price growth in 2010
Britons are confidence that house prices in the UK will rise over the next 12 months, according to new research.
The Building Societies Association's (BSA's) Property Tracker survey for December found that consumers believe property prices will increase by three per cent in 2010.
However, the organisation has claimed that respondents believe rising unemployment and raising a deposit will remain significant barriers to property purchase.
Paul Broadhead, head of mortgage policy at the BSA, said: "A healthy housing market is heavily dependent on stability in the labour market. And with unemployment likely to rise further in 2010 price growth will be moderate at best in 2010."
He added that recent house price stabilisation has helped to cut pessimism in the housing market.
Recent figures from Moneysupermarket.com found that the number of homeowner loans available to first time buyers in the UK has risen to its highest level since May this year.