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Housing market confidence unmoved

Confidence in the housing market has remained stagnant for the fourth successive month according to the Woolwich Consumer Confidence Index.
The index has now not moved since April, with 49 per cent of homeowners expecting house prices to rise over the next 12 months, compared to 62 per cent in July last year.
Woolwich head of mortgages says: “Its the first cut in the base rate for two years, so this is our best chance to shake the housing market from its lethargy. Those with existing mortgages will be able to loosen their belts a little, but whether it is enough to entice more buyers to the market is open to question.”

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