Consumer confidence in housing sector falling - Woolwich

Research into the prospects for the residential property market has fallen another 6% this month – its largest fall since the index started in 1998 and the third monthly drop in a row – suggesting the recent BoE base rate rise has had a significant impact on the housing market, so the Bank of England is unlikely to want to push that confidence any further. According to the Woolwich monthly confidence index 56% of believe their property will continue to increase in value, compared to 62% in July and 65% in June. Andy Gray, head of mortgages at Barclays and the Woolwich, says given the ...