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Woolwich finds homeowner confidence at all time low

11 January 2005
The number of homeowners who believe the value of their property will rise in the coming year is at an all time low, according to the Woolwich consumer confidence index.

But while confidence has fallen for the seventh consecutive month, the drop from November to December was just one per cent. This represents the smallest decline in confidence since the slide began.

The Woolwich found that only 39 per cent of homeowners believe their house will increase in value in the coming months.

Andy Gray, head of mortgages at Barclays and The Woolwich, noted: "Last month we predicted that confidence would start to stabilise as we enter into the New Year, these latest figures suggest that this may be starting to happen.

"We expect that confidence will remain low for the next month or so with the potential for a slight pick up in spring 2005 as the traditional house buying period starts up."

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