Via www.myfinances.co.uk

Despite the recession and the continuing gloomy economic climate, homeowners in Britain remain resolute when it comes to their opinions on property prices.

Rightmove's Consumer Price Forecast discovered that 63 per cent of people surveyed believe property values will either stay the same or go up, while 31 per cent expect them to fall.

Would-be sellers in London are the most optimistic, with those in Wales the most pessimistic when asked their opinion on what will happen to the housing market.

Estate agents have said that properties could vary in value even within short distances in the future as people seek homes close to jobs and transport links.

However, first-time buyer activity has declined significantly, with many still unable to afford large deposits and obtain mortgages.

Rightmove director Miles Shipside said: "The public's belief in the value of bricks and mortar seems to defy the deteriorating economic situation.

"It should be remembered that in spite of the overall confidence expressed in this survey for property prices, transactions volumes are still well down on historic norms. Economic stability in the UK and Eurozone will be needed before many are willing or able to re-engage with the property market," he added.

New figures from HM Revenue & Customs showed that 76,000 homes changed hands in October 2011, 3,000 fewer than the corresponding period for 2010.

Zoopla said two out of five sellers have been forced to slash prices as a result, with the average discount from the original cost having reached a new high of £19,500.

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