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Majority of UK property owners believe home values won’t change

Just 16% of people think the value of their property will decrease in the next year with the majority of people, 66%), believing it will remain at the same level.

Home owners in London are the most optimistic with 39% of respondents believing their property will rise in value in the next 12 months, 56% think it will stay the same and just 6% think it will decrease.

The next most optimistic are property owners in Yorkshire where 22% think the value will increase, 64% think it will stay the same and 14% think it will decrease.

In third place are owners in Scotland with 21% thinking property values will increase, 63% think they will stay the same and 15% said values will fall.

In contrast only 10% in the East thought their home would be worth more by this time next year, 72% think prices will stay the same and 18% think they will decrease.

The research also shows that the 16 to 24 age group is the most positive about properties rising in value with 67% confident they will increase with 33% thinking they will stay the same.

Women are slightly more hopeful about property prices than men with 85% believing the value will rise or stay the same, compared to 83% of men.

‘It is encouraging that such a high percentage of people have confidence in the property market and the value of their home,’ said Steve Reid, retail director for Clydesdale Bank.

‘Clydesdale and Yorkshire Banks offer a range of competitive mortgages and solutions for buyers who want to buy their first home or move up the property ladder,’ he added.

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