UK Confidence in Housing Market Near Three Year Low

Britons’ confidence in the housing market stayed near a three-year low in March as sentiment toward the economic outlook soured, according to Halifax.

An index of home-value expectations climbed to 44 from 42 in October, when Brexit pushed it down by a record to its lowest level since June 2013, the lender said on Friday. Fifty-eight percent of respondents predict prices will advance over the next 12 months, with 14 percent forecasting decreases.

The report adds to evidence that the property market is cooling under Brexit after prices boomed in the past decade. A measure of Britons’ expectations for the economy over the next year compiled by Ipsos MORI fell to its weakest level in five years last month, Halifax said. House price growth has weakened to the slowest in almost four years.


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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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