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There has been a significant fall in expectations about house price rises according to a new survey published by Ipsos MORI today.
33% of the British public think the average UK house price will be higher in 12 months’ time, a drop of 17 points since April 2018, down 25 points since March 2017.
Now, 30% think prices will be lower in 12 months’ time and 27% think they will be about the same. This means that the House Price Outlook (HPO) – the proportion who think the average price will rise less those who think it will fall – has fallen from +33 last year to +3 now.
This HPO is lower than all but one of the 29 measures taken via surveys for Halifax during 2011-2018, the second measure in the series taken in October 2011 and the only time it has been negative (-2).