Consumer confidence maintains fall in January

Posted: 02 Feb 2009 08:40:05 GMT

Consumer confidence fell a further 12 per cent in January to reach -37, meaning the chances that buyer demand will increase in the near future are slim.

The research has been published by Gfk NOP, which shows consumer confidence falling a full four points this month.

With the recession only having been confirmed in recent weeks, it could be that the buyer demand for housing will remain low for some time.

David Kuo, of financial website Fool.co.uk, said: "Consumer confidence continues to hover at near record lows.

"At the heart of the problem is consumer debt, which has been built up during the boom period, and continues to rise. This debt...must be whittled down if consumers are to have certainty in their own futures."

Homeowners who need to sell their homes despite the ongoing recession and low demand could take steps to slow down the falls in UK house prices.

Selling a home online, for instance, could attract more potential buyers than a typical estate agent's window, and could therefore lead to more - or higher - bids for any given property.



© Houseladder Ltd