18 Oct

Confidence in market for houses for sale in UK on the up

Confidence in market for houses for sale in UK on the up

Owners of houses for sale in the UK are becoming increasingly confident that the value of their property is set to rise.

Nationwide Building Society has published its new Consumer Confidence Index for September 2010, showing that UK homeowners expect the value of their houses to grow by 0.1 per cent over the next six months.

This represents a turnaround from the August survey, in which consumers had predicted a 0.1 per cent decline.

Martin Gahbauer, Nationwide's chief economist, noted that this trend was observed in spite of a drop in confidence in the UK's wider economic prospects.

He noted that these statistics are likely to continue to fluctuate until the full implications of the coalition government's Spending Review becomes clear.

Earlier this month, further research from Nationwide showed that the value of houses for sale in Britain achieved growth between August and September 2010, rising by 0.1 per cent from £166,507 to £166,757.ADNFCR-1222-ID-800121784-ADNFCR

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