House price hopes go positive

UK households ended a 32-month run of negative sentiment on house prices in March, according to data out this morning. Knight Frank and Markit’s house price sentiment index climbed to 50 this month – which indicates flat prices – after over two and a half years during which households reported their house was falling in value. And the households surveyed boosted their price expectation index further, from 62.3 in February to 62.6 in March, suggesting a firm majority expecting the next 12 months will see substantial price growth.