Confidence plummets says National Homebuyers

Consumer confidence slumped in January, as fears grow that many people will suffer financial difficulties in the months ahead.

[ClickPress, Mon Feb 18 2008] Nationwide has published its well-respected Consumer Confidence Barometer, revealing that confidence among UK consumers is at it lowest level since records began.

The Present Situation Index, which gauges opinion on the current economic and employment situation, fell five points.

It was clear from this that people are concerned about the economy and the financial difficulties which they face.

The Expectations Index, which looks six months ahead, fell by four points, with employment causing particular concern.

"The continued downward trend in consumer confidence in January is not unexpected in light of current uncertainties about the economic outlook," said Martin Gahbauer from Nationwide.

"Sharp falls in share prices, the rising cost of essential items and a weak exchange rate have combined to negatively impact consumer sentiment, which could be a reason for the increased pessimism around the future economic and employment situation.

"The expected rate cut in February may boost sentiment in the short-term but it will be some time before consumer confidence is back to the levels reported a year ago," he added.

Fast property sale expert Julian King adds, "The homseller still faces a sizable problem insofar as the number of potential buyers is very limited.

"Fewer buyers mean that the sellers are unable to achieve the asking price of their property, particularly if they need a quick sale of their property.

"Homeowners who need a quick sale are finding life much faster and cost effective using a quick sale company".

Mr King is a director of National Homebuyers, the UK's leading quick property sale firm that guarantees to make an offer on any property in the UK, regardless of its condition or location. The company also offers the Sell and Rent back solution for homeowners

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