Report shows upturn in property price confidence

News Category: Industry News

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UK consumer confidence in the imminent future of house prices has increased, according to new research.

Nationwide Building Society's Consumer Confidence Index for April indicated that people believe the cost of property is set to drop by two per cent in the next six months, which is in comparison to the three per cent fall predicted by the March survey.

Landlords may be among those who share the opinion that property prices are beginning to level off after months of dropping.

Senior economist at Nationwide Martin Gahbauer said that recent positive property surveys may have contributed to this renewed optimism in the housing sector.

The Royal Institution of Chartered Surveyors is one of the groups which predicts that the market is set to see more transactions in the coming months.

"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 during April," Mr Gahbauer explained.

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