While there has been plenty of uncertainty surrounding the UK economy, the property market has remained strong in the 2 years since Brexit.

Many homeowners and potential movers became unsure and hesitant when it came to making decisions on their home, however, new data suggests that confidence in the market is on the up.

A recent Housing Market Sentiment survey from Zoopla hoped to discover how confident each region in the UK is about their home and their expectations for next 6 months.

The survey revealed that 84% of homeowners in Britain expect property prices in their area to rise over the next six months, when the same survey was taken 6 months ago, this figure stood at 70%, which is quite the change in such a short space of time.

This is the largest increase in confidence since before the Brexit vote and on top of this, homeowners expect rises by an average of 6.9% in their area, another figure that has seen a jump, as it stood at 4.9% 6 months prior.

In terms of individual regions, the East Midlands was the most optimistic, with 93% of survey participants from this region believing that house prices will rise over six months. Showing a similar sentiment was the East of England with 90% feeling the same way about house prices.

On the opposite end of the scale, the North East was the least upbeat regarding house prices, with 63% feeling confident in price growth, but this region has seen a huge 22% boost in confidence since November 2017.

When looking at the rate at which survey participants expect prices to rise, the West Midlands had the highest expectations throughout the UK, predicting a 10.6% increase in property values by the end of the year. The East Midlands wasn’t too far behind, forecasting a 9.2% increase.

Director of Communications at Zoopla - Lawrence Hall – commented on the uptick in positivity, he said; “It’s encouraging to see a bounce-back in consumer confidence in the market – it’s the largest increase we’ve seen since 2016,”