Consumers are losing faith in housing market - Woolwich

The lender’s latest consumer confidence index suggests overall confidence slipped with 3% in July. Last month, 62% of homeowners believed their house would continue to increase in value compared with 65% in June and 67% in May. Andy Gray, head of mortgages at Barclays and the Woolwich, says: “This continued fall confirms our prediction that confidence would gradually decline as interest rates bite and people become more cautious about borrowing decisions. “With a rate rise predicted this Thursday and a further rise before the end of the year we would expect this downward trend to c...