UK house price expectations again on the rise in August, Knight Frank says

Britons are again expecting house price gains, the results of a closely-watched survey revealed.

Survey compiler IHS Markit's UK House Price Sentiment Index rose from 41.1 in May to 51.1 for August, showing that households expect home price inflation to resume.

Any figure over 50 indicates that households expect prices will rise. In the coming 12 months.

This month's reading followed four consecutive prints below 50.0.

"The bounce back reflects the unexpectedly rapid recovery in housing market activity since the easing of lockdown restrictions, partly as a result of pent-up demand being released into the market, but also behavioural shifts, as people reassess their housing needs and preferences as a result of life in lockdown," Oliver Knight at Knight Frank said.

Knight Frank also said that the rise in the number of prospective new buyers in London reached its sixth highest level in 20 year during the week ending on 8 August.