uSwitch survey shows confidence in housing market

Date:Monday 24th August 2009
Author: Max Freedman

Over ten million UK consumers think that the housing market will be back on its feet again by the end of this year, according to a uSwitch survey.

Research by the comparison site showed that 21 per cent of the population felt that the market would recover in 2009, even though reports of house price indices and the advice of mortgage brokers may suggest otherwise.

Louise Bond, personal finance expert at uSwitch.com, said it was encouraging to see people finding positives despite the cutbacks that people have had to make in the current financial climate.

She said: "Despite the doom and gloom, however, many consumers are seemingly exhibiting a 'British Bulldog' spirit amidst the financial crisis."

Results of the survey showed that 44 per cent of the population believed it was more realistic to see the housing market stabilise by the end of 2010.

Gross mortgage lending for July was at its highest level for nine months according to figures released by the Council of Mortgage Lenders last week.