MOST homeowners expected property prices in their neighbourhood to rise in the next six months.

The latest housing market sentiment survey by Zoopla reveals that 87 per cent of UK homeowners predict that property prices in their area will rise in value by an average of 7.8 per cent.

There were regional differences however, with 89 per cent expecting a rise in the East of England compared to 68 per cent in Wales. Homeowners in the East Midlands were the most optimistic about how much they expected prices to rise, predicting double digit growth of 10 per cent. Londoners anticipate that prices will rise by 9.9 per cent.

However, this optimism comes against a backdrop of uncertainty for the UK property market, with just 18 per cent of Brits planning to buy a home within the next six months – a seven per cent decrease since last October. Meanwhile just 17 per cent of Brits said they were planning to sell their home before Christmas.

According to the survey respondents, it is easier now than it was 12 months ago, to secure a mortgage. Only 29 per cent said it was more difficult to gain approval for a mortgage – down from three per cent last April.

Lawrence Hall, spokesman for Zoopla, said it was encouraging to see a boost in confidence regarding property prices, however, “despite this, we can’t ignore that there’s been a rise in reluctance to buy and sell properties".

“With the upcoming General Election, it’s perhaps no surprise that people may be holding out to make a purchase or sale decision until June 8,” he added.