Belfast Telegraph

Housing recovery in UK helps fuel optimism

Consumer confidence has surged to its highest level in six years as the UK's recovering housing market helps drive optimism.

Householders' willingness to spend is also at a six-year high, consultancy Nielsen's survey of consumer confidence and spending intentions showed.

Consumer confidence rose by eight points to 87 in the July to September quarter, Nielsen said, its highest level since the third quarter of 2007.

The increase in UK household optimism was the joint fourth-highest among 60 countries.

Positivity on job prospects was at a five-and-a-half-year high, while optimism around personal finances was its strongest for six years.

Britain's housing market is recovering as Government stimulus schemes drive prices higher and boost mortgage approvals.

The survey showed rising utility bills were the only main concern to increase on the prior quarter, and are now the first or second-highest worry for 31% of UK households, up from 27% during the second quarter.

Belfast Telegraph