Wealthier people saw a larger rise in the price of their property in February, than poorer people. Research from Moneynet has shown that the average UK property value of higher earners increased to £204,656, which is a 0.82% increase compared to £202,990 in January. Despite the discrepancy in house prices, consumer confidence in the housing market has increased for the second time this year, according to the Woolwich. Their research found that 45% of homeowners believed that their property would continue to increase in value, compared to 40% in January.
Our view
Property still rises in desirable sectors, expect another rate increase before the summer.