A third expect house prices to rise – London Wallet

The Martin Lewis Money Show returned to our TV screens this week with more expert advice to help cope financially.

The UK’s resident MoneySavingExpert provided viewers with everything they need to know about saving money on house prices, mortgages and rent.

Speaking during the show, Lewis offered a major warning for those concerned about rising interest rates. He said that borrowing rates may never return to where they were in early 2021. Instead, the rates will likely rise further this year, before dropping to around 3% in 2024.

UK house prices – a hot topic of debate – are clearly something many viewers are interested in, and this prompted Martin Lewis, in conjunction with ITV, to post a poll on Twitter asking for his followers to vote on whether house prices in their local area will rise, fall, or remain unchanged over the next 12 months. It attracted more than 44,000 votes

Somewhat surprisingly, almost a third – 32.1% – expect house prices to rise over the the next 12 months, according to the survey. This is despite recent falls, and predictions of further price declines.

On the flipside, 26.8% expect a drop in property prices. The rest sat on the fence.

This means, on balance, more people think house prices will rise than fall, revealing a positive house price outlook.

Today’s Poll in conjunction with @itvMLshow (8pm):

Do you think house prices where you live in the UK, will be higher or lower than they are now in a year’s time?

Please explain why too using #MartinLewis

— Martin Lewis (@MartinSLewis) February 7, 2023