THE housing market is heading for a modest autumn revival as fears that prices will fall substantially recede, new research showed.
Around 48% of people now expect property prices to rise over the coming 12 months, compared with 45% who think prices will fall, according to Propertyfinder.com.
Overall, househunters expect the average cost of a home to edge down slightly by 1.6% during the next year.
The group said people's confidence had slipped slightly since July as a result of negative economic news, such as rising oil prices and weak consumer sales, as well as the usual seasonal slowdown.
But it added that positivity was still well ahead of the levels recorded during 2004, suggesting housing market activity will continue to recover from the weak levels seen at the beginning of this year, although prices will not necessarily rise.
Jim Buckle of Property finder.com, said: "We have not changed our view that a modest revival in the market is set for the autumn, although recent events have caused us to moderate our view of the magnitude of the likely upturn."
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