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Confidence in UK housing market grows01/28/2008
Confidence among UK estate agents is beginning to improve as fears of a market crash are unfounded. Following a slow down in the market, fears over the future direction of the market have arisen. However this trend has begun to reverse with nearly 72% of estate agents now confident in the market compared with 53% before Christmas.
The January 2008 figure is also a huge improvement on confidence in November, when a lowly 33% of estate agents were confident about the future position of the market. The last few months of 2007 were particularly slow with the global credit crunch and Northern Rock lowering investor confidence and causing concern for future property prices.
As a result the market was approached with caution in 2008 as many were expecting a crash. Yet this has not happened and in fact the market has started to recover with house prices expected to rise steadily in 2008.
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