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Barclays sees housing market confidence falling further

Confidence in the housing market is continuing to decline and consumers are searching for greater financial security according to Barclays Mortgages.


The lender says the factors that would make consumers feel more confident about moving home are the need for less debt, more secure income, lower mortgage payments and stable house prices and inflation.


It says that only 40 per cent of consumers believe their homes will increase in value in the next 12 months compared with 53 per cent this time last year.


Marketing director Jim Chadwick says: &#34People are clearly reacting to what they are hearing about a possible recession and the effect this is having on consumer confidence will eventually be reflected in less buoyant lending figures.&#34

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