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Consumer Confidence Buoys up Housing Market

LONDON-Homeowners have more confidence in the housing market than at any time in the last four years according to the latest Woolwich consumer confidence research. Despite soaring house prices 64% of consumers are still confident about the market.

By Graham Parker | Updated on June 19, 2002

LONDON-Consumers do not believe that the UK’s house price boom is going to come to an end. Despite warnings last week from the Bank of England that the market was in danger of overheating, consumer confidence in the property market is higher than at any time in the past four years with 64% expressing confidence in the market.

Consumer confidence has grown by 22% over the last four years, and over the last three months average consumer confidence is still showing an increase of 3%. People in the South of England are most confident that house prices will continue to rise, with 73% expecting more increases.

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