9 Dec

Consumer confidence in property 'remains stable'

Consumer confidence in property 'remains stable'

Consumers' confidence in property is remaining at a stable level, according to new data from Nationwide.

Figures released by the financial services provider show that consumers believe that the value of their property will increase by a total of one per cent over the course of the next six months.

Commenting on the data, Martin Gahbauer, chief economist at Nationwide, said that confidence is "holding steady" at the end of what has been a "volatile year" for the confidence index.

"Expectations for the next six months have not abated and remain at a high level," he concluded.

Other points of note on the Nationwide index include the fact that the spending index has risen by two points to stand at 106, which means that it has now stood above the 100-point level for ten consecutive months.

In other news, a recent study by the Co-operative Bank showed that an increasing number of consumers are choosing to overpay on their mortgages in a bid to pay them off sooner.ADNFCR-1222-ID-19503364-ADNFCR

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