House price confidence ticked upwards in September as Brexit fears faded

Helen Cahill
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UK Landmarks - Windsor
Consumer confidence is expected to follow suit when data is released this week (Source: Getty)

As worries about the effect of the Brexit vote on the UK economy start to fade, Londoners have become more confident about the price of their home.

According to research by Knight Frank, people across the UK believe the value of their house increased in September. Londoners perceived the biggest house price growth of anywhere in the country.

Read more: House prices under threat in Tower Hamlets due to rapid building and Brexit

Knight Frank's house price sentiment index came in at 56.9 for September (any number above 50 indicates rising house prices).

Grainne Gilmore, head of UK residential research at Knight Frank, said:

House price sentiment is mirroring the broader pick-up in confidence after Brexit. This comes as initial data shows a continuing positive picture for both unemployment and economic output.

Economists are also expecting to see a post-Brexit vote uplift in consumer confidence when GfK releases its widely-followed sentiment index later this week.

There was a lull in house prices immediately after the EU referendum, but data released recently from Rightmove showed that house prices bounced back in the first weeks of September.

Gilmore added: "The housing market is now entering the typically busier autumn season, with indications that activity is rising, especially in key urban areas."

House prices after Brexit: a short history

  1. In June, RICS predicted house prices would drop for the first time since 2012
  2. Rightmove report house prices fell by 0.2 per cent in June
  3. Brexit vote, everyone wants to know what will happen to house prices, so we asked the experts
  4. FTSE 100-listed housebuilder shares take a tumble
  5. Data from Halifax shows house prices fell after the Brexit vote
  6. Mortgage approvals fell to an 18-month low in July
  7. Nationwide reports house prices went up again in August

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