Homeowners awaiting further equity to build in their homes before seeking a remortgage will be delighted to hear that it is forecasted for property values to increase on the average by 9% by September.  According to Zoopla, the average house price is expected to jump 8.8% in the coming months as demand from buyers continues to rise.  This level is almost double of the anticipated growth of 4.5% offered for the same time period last year.

Homeowners are optimistically expecting more equity with 95% of them forecasting that house prices will increase.  In comparison, only 74% of homeowners expected an increase in property values last year.  Almost 5,000 homeowners were polled for the survey.

London continued to show a favorable outlook for property values to increase at 97% looking for a boost and Wales also experienced more optimism for their property values at 92% which is up from the 85% that were favorable toward increases only three months ago.  This was the largest increase in optimism toward rising property values seen of any area in the UK.

Homeowners with the least confidence in rising property values were in North East England and Scotland, but the majority of homeowners were overwhelmingly optimistic at a level of 89%.

Many of the homeowners are expecting to make home improvements in the next six months at a rate of 42% with no doubt many expecting to have a hand at increasing their home value and building equity.  There are more expectant home movers with 31%, up from 22% in January, planning to buy a property and move home within the next year.

Lawrence Hall, spokesman for Zoopla.co.uk, said, “With prospective sellers eager to take advantage of a buoyant market and buyers wanting to snap up the best properties before they slip out of reach, indications suggest the market will remain strong over the coming months.”