Housing market sentiment increases

According to the latest report from Lloyds Bank, confidence in the housing market is up five percentage points.

The lender has highlighted that feelings towards the housing market have increased to -10%. This is a 5% increase year-on-year and four percentage points from this time last month. One of the largest increases of opinion was felt across the East Midlands. There, sentiment jumped to 4% from -9% in October.

South West has seen the biggest increase this month, up 17 percentage points since last month to -4%. Northern Ireland is now the most negative at -34%, down 13 percentage points from last month.

Consumers’ sentiment about their own personal financial situation is at its highest level since the start of the survey in 2011, with an eight percentage point improvement from last month at 21% and a 14 percentage point increase from this time last year. Greater London has seen a notable 23 percentage point increase from last month, making it the most positive region at 36%. Scotland currently holds the lowest opinion towards their personal finances at 8%, down 10 percentage points from last month.

Greg Coughlan, Director of Personal Current Accounts at Lloyds Bank said:

“The improvements we have seen over the course of the year are of great benefit to consumers. With consumer confidence at an all-time high for the end of 2014, this will hopefully help bolster spending into the new year. As sentiment improves, we know that customers are looking for ways to help make their money go further, which is why we will continue to reward customers with current accounts that help them achieve this.”