Confidence was static for four months, but has fallen by one per cent in September with 48 per cent of homeowners expecting their property to rise in value over the next 12 months, compared to 63 per cent this time in 2002 (at the height of the property boom) and 52 per cent this time last year.These latest figures indicate that although new buyer enquiries rose in August and September, homeowners are generally becoming more realistic about growth in the market especially as sellers continue to accept offers below the asking price*.
Andy Gray, head of mortgages at Woolwich, said: "Despite this slight drop in confidence has we expect to see confidence start to pick up again towards the early part of next year as speculation intensifies as to what impact the new pension provisions for property will have on the market."
Other highlights:
Homeowners in Scotland and Yorkshire are the most confident about house prices increasing (55 per cent and 51 per cent respectively). The least confident regions are the South East and East with just 45 per cent of homeowners expecting prices to rise.
Men are more pessimistic than women with seven per cent expecting a decrease in house prices over the next 12 months compared to just four per cent of women.
