Housing market confidence cools in November

Confidence in the UK housing market cooled in November, with fewer people thinking that their property increased in value compared to last month.

Bankers Halifax said that just 14 per cent of people surveyed said that they believed their home had become more valuable this month, compared with 17 per cent in September and October.

Despite the slip, the figure remains high above the four per cent recorded during the first national lockdown in May.

As a result of the decrease, Halifax’s house price sentiment tracker fell from 52.4 to 51.6 in November.

Any figure above 50.0 indicates that people believe prices are increasing and any figure below 50.0 that they are decreasing.

More people think their house will be worth more in 12 months’ time than those who think it will be worth less, in a sign of increasing optimism in the housing market.

By Edward Thicknesse, please read the full article on City A.M.

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