Housing market still asleep…but for how much longer - Woolwich

Woolwich’s consumer confidence index for July finds half of homeowners expect prices to increase over the next year, in competition with 62% last year. The mortgage arm of Barclays says the market has been waiting on an interest rate cut, but the jury is still out on whether a quarter point reduction will open up the market again. Andy Gray, head of mortgages at Woolwich , argues the cut represents the first real opportunity to wake the housing market up from its lethargy. Gray says: “Those with existing mortgages will be able to loosen their belts a little, but whether it is enoug...