House price confidence lowest in three years
Confidence in the UK housing market fell to a three year low according to the Halifax Housing Market Confidence Tracker.
While most (57%) people still expect house prices to see some kind of growth in a year’s time, sentiment was far more buoyant in March.
The Brexit vote prompted 15% thinking of buying or selling property to delay or cancel their plans.
Martin Ellis, Halifax housing economist, said: “Optimism in the housing market has taken a fall in recent months, with many people now expecting a general slowdown in the market and no, or little, change in house prices over the coming year.
“This sentiment is consistent with recent findings from the Halifax House Price Index which show that prices are still growing, but to a lesser extent.
“Confidence with the wider economy has tracked down sharply since May 2015 but encouragingly, optimism has bounced back to where it was a year ago and is broadly neutral.”
The survey was undertaken between 23 September and 19 October 2016.