The UK housing market has flourished in the months leading to now and that trend is expected to continue in the area of house price growth, according to a recent survey. The questionnaire known as the House Price Sentiment Index indicates a high number of people believe the value of their home increased in value during the month of May. This belief comes despite the uncertain future which exists for the housing market with the referendum quickly approaching.

The HPSI conducted by Knight Frank and Markit Economics also revealed all 12 regions which took part in the study believe the value of their homes increased during the month. Participants living in the city of London believed values increased at a higher rate than any other region.

The future version of the HPSI measures the opinions of what house owners feel will happen over the course of the next year. For the 14^th month running, research discovered all households believe the value of their homes will increase during the next 12 months.

Gráinne Gilmore with Knight Frank commented on the data, saying: “The housing market is gaining momentum across many parts of the UK, although it is worth noting that households in the North East did not perceive that the value of their home rose over the last month, but rather reported that prices remained unchanged. This underlines the localised nature of the housing market across the country, which is moving at different speeds.”

Gilmore added: “The strong price growth seen in other areas including London and the South East is underpinned by a lack of supply, both new delivery of homes into the market as well as a lack of second-hand stock coming onto the market for sale, in the face of rising demand.”