Bank hails return of confidence to house market

This compares to 84 per cent of those surveyed over the same period last year. A quarter are confident that there will be an increase in value in comparison with only 18 per cent in 2012, according to Yorkshire Bank, which questioned 2,000 people in the UK, of which around 120 were in Yorkshire.

Those living in London were the most optimistic with 53 per cent anticipating an increase compared to 17 per cent in Yorkshire. Seventy five per cent in Yorkshire believed the value of their home will stay the same.

However, 62 per cent of those surveyed plan to stay in their current homes with 22 per cent planning to extend or improve their property. Finding a good home at a bargain price was the main motivator for moving home.

Andrew Pearce, retail director for Yorkshire Bank, part of the National Australia Bank group, said: “It is encouraging to see confidence returning to the property market with an increase in both those who think the value of their property will stay the same and those that think it will increase from the same period last year.”