Woolwich sees fall in house price confidence

05 November 2004
The Woolwich has discovered that consumer confidence in the future of house prices fell again in October, to its lowest level in four years.

When the question "do you think house prices will continue to rise" was asked in September 52 per cent of people believed they would. But when this question was posed again last month just 45 per cent felt prices would continue to rise.

Andy Gray, head of mortgages at Barclays and The Woolwich, said: "We expect confidence to soften further as interest rates are set to peak at five per cent in early 2005."

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