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Public confidence in the housing market continues to rise

People living in Scotland are becoming increasingly confident in the outlook for the housing market, according to the latest Bank of Scotland Housing Market Confidence tracker. One in three (33%) respondents predict that house prices will increase over the next year, higher than the proportion that believe house prices will fall (23%).

Despite this improvement in sentiment, confidence in the housing market in Scotland remains lower than the average across the UK as a whole. Moreover, only those in the North East of England are less optimistic regarding the outlook for house price movements in 2012.

Consistent with the improvement in house price expectations, the net balance of those that believe it is a good time to sell has improved; from -80 in January to -63 in March. Notwithstanding this less negative sentiment regarding selling, almost two-thirds (63%) think now is a good time to buy, which is more than four times the proportion that believe it is a good time to sell (15%).