Consumers hopeful of housing market recovery

Posted 20/08/2009

More than one in five people in the UK believe the housing market will have recovered from its recent slump by the end of this year.

This is the finding of a poll by uSwitch, which also revealed that 13 per cent think the recession will have ended by this time.

Meanwhile, 44 per cent of respondents said they believe the number of property sales and purchases will go up next year.

Commenting on the findings, uSwitch said they show the “inherent steadfast trust” in property still remains.

However, spokeswoman Louise Bond insisted: “Consumers really need to be aware of the financial legacy a recession leaves, long after a return to positive growth.”

She added that no-one can accurately predict when the decline in the economy will abate.

However, official figures this week showed that retail sales in the UK during July were 3.3 per cent up on the previous year, while the CBI has also reported rising confidence in the manufacturing sector.