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.