Wednesday, Sep 06, 2006

House price confidence slumps says Nationwide News: Expectations of house price rises moderate

Stuart Bernau, Nationwides executive director, said: "The Bank of Englands decision to increase Base Rate clearly had a dramatic impact on consumer confidence and peoples reactions over the coming weeks will be crucial."

"If confidence fails to bounce back, the impact on many areas of the economy could be severe. Beside the rate hike, a number of other events have occurred in the past month; the continued fighting in the Middle East and consequent uncertainty over energy prices, coupled with the suspected terror plot, have all put a dampener on confidence."

Much less bullish than his colleague Fionnuala Earley!

Posted by tinecu @ 01:35 PM (551 views)
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1. indiablue19 said...

Well, all the VIs need to get in their last Boo-Hoo before the vote. Possibly they should save their gyrations, face-pulling and theatrics for next month; sentiment is clearly in favour of a "hold."

Wednesday, September 6, 2006 08:32PM Report Comment

2. The Bald Man said...

These VI''s say whatever suits the moment. Next week he will be bullish on house prices.

Wednesday, September 6, 2006 09:36PM Report Comment

3. Sam. said...

Funny, that article amounts to them (the nationwide) saying the last rate raise had such a big effect; please dont raise them this month.

Also they seem to blame everything but the over consumption and over spending/lending in the economy for the lack of confidence.

Thursday, September 7, 2006 10:07AM Report Comment

4. George Monsoon said...

Stuart Bernau said "The Bank of Englands decision to increase Base Rate clearly had a dramatic impact on consumer confidence"

hmm.. absolute tosh! the public lost confidence with the banks ability to say "no" long ago.
Thats why I'm in the "can't afford a house" bracket now.

Uncle Tom WILL be correct this month when the interest rates are put on hold. Not because last months interest rate curbed the spiral of inflation, but because the flailing government don't want to give the opposition more amunition if they raise the rates again. With the very real lack of confidence in the house and with the public, I think Gordon will have passed his mandate to the BoE already. - HOLD

Thursday, September 7, 2006 10:49AM Report Comment

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