6
May
Consumer confidence in property improves
Consumers in the UK are more confident about the immediate future
of property prices, new research has revealed.
According to Nationwide Building Society's Consumer Confidence
Index for April, the general public has predicted house prices will
drop two per cent in the next six months.
If they are right, first-time buyers may find bricks and mortar
more affordable in the near future.
March's respective survey indicated that people thought the cost of
housing would drop three per cent over the next half-year
period.
Nationwide's senior economist Martin Gahbauer put this more
positive outlook down to a number of factors, including recent
evidence from property professionals that the housing market is
improving.
For example, Royal Institution of Chartered Surveyors research has
hinted that there will be more property transactions in the coming
months.
Mr Gahbauer remarked: "In recent weeks, we have seen a strong
rebound in global equity markets and some tentative signs of
improvement in housing market indicators, both of which may have
contributed to the marked upturn in consumer confidence."
