Confidence slowly returning to the housing market

47 per cent of people believe that their home will continue to increase in value over the next 12 months. This is compared to 45 per cent in February and 40 per cent in January.

Confidence is still considerably lower than last March however where confidence was 65 per cent.

Andy Gray, head of mortgages at Barclays and the Woolwich, said: "As predicted confidence is continuing its upward trend as we enter the traditional home buying period. Potential buyers that may have been holding back waiting for the market to stabilise seem to be more confident now, alongside this interest rates have been stable for eight months in a row"

Scotland remains the most confident region closely followed by the North West with confidence reaching 55 per cent and 53 per cent respectively. While the South West continues to be the least confident region with only 38 per cent of homeowners believing that their property will continue to increase in value.