Consumer confidence grows in housing market

Consumers' confidence in the housing market is increasing, with nearly half of people expecting prices to rise during the coming year, research showed.

Around 49 per cent of people think property values will increase in the coming 12 months, while 12 per cent think they will stay the same, according to the Building Societies Association.
But people are not expecting strong gains, predicting that prices will edge ahead by only 1.4 per cent during the period, although this is a significant improvement from predictions of falls of 6.1 per cent when the same research was conducted in March.
Only one in five people now think it is a bad time to purchase a home, while 27 per cent of those questioned are still expecting further price falls, down from 65 per cent in March.

The rise in confidence follows a run of positive data on the housing market in recent weeks, with both Nationwide and Halifax reporting house price rises during May.

Source: Telegraph

This could give a significant blow in Real Estate Business..