Confidence drops to lowest for 5 years in UK house prices according to Halifax
Confidence in UK house prices has dropped to its lowest level since December 2012, according to the latest Halifax Housing Market data which reveales that the house price optimism balance dropped to 30 points in October, the index has fallen by 38 points since it peaked in May 2015.
The Halifax survey which was conducted by pollster Ipsos MORI reveals that the house price optimism balance has dropped 14 points from April to October.
Russell Galley, managing director of Halifax Community Bank, said: “Housing market optimism has declined significantly over the past year, with almost half of people expecting a general slowdown in the market.
“Even with a potential Base Rate increase on the horizon, it’s significant that buyers’ concerns continue to be centred on raising deposits and job security and, as such, we do not anticipate that an increase in Base Rate will have a significant effect on the demand for properties.”
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