6 May

Consumer confidence in property improves

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."
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