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Woolwich: Housing market confidence remains stable

20 July 2005
According to research by building society Woolwich, the past three months have seen unprecedented stability in the housing market, with no change in consumer confidence.

This is the first time this has happened since Woolwich began tracking in 1988.

In June 49 per cent of homeowners expected prices to rise in value over the next year, compared to a figure of 65 per cent recorded at this time last year.

Andy Gray, head of mortgages at Woolwich said: "Confidence has stabilised after improving considerably from a historic low of 39 per cent in December 2004. Continued interest rate stability will help maintain and improve confidence."

Despite overall UK confidence remaining constant, there have been fluctuations in Wales and the south-west.

The results, accompanied by increasing overall wages and an expected interest rate cut, could see a high number of property transactions this summer.

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