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Rising confidence in the housing market grinds to a halt

Confidence in the housing marketing has come to a halt after three months of steady increases, according to Barclays mortgage arm The Woolwich.

It&#39s consumer confidence balance shows that month on month confidence is flat, dropping only one percentage point to 55 per cent since June.

The Woolwich believes the increase in confidence was due to a bubble effect that saw the housing market pick up from the start of spring and increased by the end of the middle east conflict. However, fewer first time buyers entering the market, high levels of personal debt and economic factors such as slower earnings growth, lower bonus payments and higher household taxes are contributing to the slowdown.

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