Housing market confidence warning

Published by The Press Association
on Monday, 10 January 2011
Confidence in the housing market has fallen to its lowest level for two years as people worry about Government spending cuts and the ongoing problems in the mortgage market, a survey suggested.

Only 54% of homeowners think house prices will increase in the coming six months, down from 81% a year ago and 63% just three months earlier, according to property website Zoopla.co.uk.

On average people think property values will inch ahead by just 1.9% in the period, while 33% of those questioned predicted house price falls.

But while people are downbeat about the prospects for the housing market as a whole, they are more optimistic about the outlook for their own property, predicting it will rise in value by around 2.5% in the coming six months.

Despite this, …

Tags: house prices, housing market, mortgage, property, spending, uk, zoopla

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