Consumers' house price expectations rise
Nov 10, 2006
Despite the interest rates rise this week, consumers are largely feeling confident about the economy, new figures show.
Nationwide's Consumer Confidence Index reveals that belief in the housing market remains strong with Britons' expectations of house price growth rising in October. Consumers are now expecting a rise in house prices of 3.9 per cent in the next six months on average, nearly one per cent higher than in September.
The number of people feeling confident about the current economic situation has, surprisingly, risen since August's interest rates rise, while the number of people feeling confident about the UK's future economic situation has risen even more dramatically, by the largest amount the index has ever seen.
Nationwide's spokesperson said that although most market commentators thought that an interest rates rise was a forgone conclusion, consumer confidence had returned to the levels seen earlier in the year. However, while consumers seemed more confident about jobs and the economy, this had not translated into a spending boom on the high street, he added.
With Secured Loan UK .com, no matter whether you're Status or Non Status, being a Homeowner means we can get you a competitive rate that matches your credit history.
All you have to do is complete our Secured Loan Application Form and let us give you a FREE and NO obligation quote.
