Majority of the households in the U.K. perceived that the value of their houses increased in December, results of a survey by Knight Frank and Markit Economics showed Friday.
The house price sentiment index, or HPSI, rose to 59.1 in December from 58.4 in November. This marked the twenty first consecutive month of the index remaining above 50.
A reading above 50 signals a rise in house prices while a figure below 50 indicates a fall.
Meanwhile, the future HPSI, a measure of expectations on house prices, decreased to 70.5 in December from 71.1 in the previous month.
«Heightened political and economic uncertainty may be dragging on households' expectations for their property values over the course of 2015, » Tim Moore, senior economist at Markit, said.
«However, recent falls in consumer price inflation will boost household budgets in the new year and should reduce the likelihood of imminent base rate rises from the Bank of England, «
The material has been provided by InstaForex Company – www.instaforex.com