July housing confidence stable
Compared to July last year confidence is +20% higher, although 55 to 64 year olds in particular have a negative towards the housing market.
Overall consumer confidence picked up in July to reach a high of 147 points, tallying with price falls in gas, electricity, food and drink and fuel.
Employment-wise, consistent with last week’s figures showing that employment is at its lowest level for six years, confidence increased by one basis point.
Patrick Foley, chief economist at Lloyds Bank, said: “July’s welcome recovery in sentiment comes against a backdrop of continued good news on the economy, most visible in the positive employment outlook.
“However, with official data pointing to continued weakness in wage growth, the easing pressure on household budgets from spending on essentials provides an important support for consumers to undertake discretionary purchases.”