Monday 26 September 2016 11:30 am

House price confidence ticked upwards in September as Brexit fears faded

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.

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."