Confidence in the UK housing market levelled off at its lowest point since Woolwich started keeping monthly records in 1998, although the fall seems to have stabilised.
Just 39% of the 1,000 people surveyed for December’s results felt house prices would continue rising through the next 12 months, down from 40% in November, and 45% in October.
Woolwich, and its parent Barclays, believe the slower fall in confidence suggests confidence will remain low before picking up as the traditional spring house buying period gets under way.
Regionally, confidence levels increased in Scotland and the South East – Scotland was the only area where more than half, 53%, of those surveyed felt prices would gain in the next 12 months.
People were most pessimistic in the East of England, where confidence levels dropped to 35%.IFAonline
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