9
Sep
Consumers "beginning to feel more positive"
The moderate increase in confidence this month indicates that
consumers are beginning to feel more positive for the first time
since April, according to one property expert.
Martin Gahbauer, chief economist at Nationwide, which was voted
Britain's most trusted brand of mortgage lender in a Readers Digest
survey earlier this year, said that confidence has increased, not
only about the future but also about the present situation in the
property market.
His comments follow the release of the Nationwide Consumer
Confidence Index, which recorded a two-point increase to reach 63
in August, while the Present Situation Index rose by one point last
month to 17.
"The rise in positive sentiment across all the indices is no
surprise as a number of key economic indicators continue to show
that we may have reached the bottom of the current recessionary
cycle," stated Mr Gahbauer.
He added that it is likely that the housing market will see a
protracted recovery.
