Consumer confidence still down

Posted: 05 Apr 2006 10:27:37 GMT

            Property News - Consumer confidence still down

New research from Nationwide Building Society indicates that consumer confidence in the UK is still low, despite a moderate improvement last month.

The Nationwide Consumer Confidence Index rose by just one point to 95 in March, although after several months of decline, this is perhaps not wholly disappointing.

According to Nationwide, it is the housing market that provides the greatest cause for optimism, as although economic recovery is seen as weak, a strong housing market is likely to boost this over the coming months.

Nonetheless, it is thought that consumers' views of the economic and employment situation are still pessimistic.

Expectations are generally stable, although there is some concern over future income, with the number of people expecting household income to fall in the next six months rising to an all time high of 11 per cent.

It seems clear that although the housing market is recovering and consumer confidence has perhaps started to turn a corner, buyers are still cautious with their money.

For those hoping to sell property, it may be another reminder of the benefits of private selling over the internet, as homebuyers look to save money that is often frittered away on fees to estate agents.

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