House Prices Remain Key Indicator Of UK Consumer Confidence

 

Editor of What Mortgage, Ben Wilkie, has suggested that house prices in the UK remain a key indicator of consumer confidence.

Mr Wilkie said the fall in the cost of buying a home for the second month in a row reflects the general uncertainty of people nationwide.

He explained the figures will not really have an effect on homeowners, but it will benefit those looking to make their property purchase, adding "The only people who really struggle are people who need to remortgage and are quite tight in terms of money.".

Mr Wilkie also claimed house prices are bound to be a "little bit more unpredictable" due to the UK's current economic condition.

According to recent figures from Andrew Godwin, senior economic advisor to the Ernst & Young Independent Treasury Economic Model Club, there could potentially be a double-dip in the housing market. It revealed demand for unsecured loans is still subdued, which indicates a weak consumer recovery. 

 

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