Uncertainty over a possible war with Iraq has taken its toll on confidence in the housing market, according to research published today.
During February only 53% of people said they thought property prices would continue rising - down from 55% in January - despite the surprise cut in interest rates.
The Woolwich said people's confidence in the market had been on a downward trend since peaking in May, when 68% of those questioned thought house prices would carry on rising.
The number of people expecting prices to fall has also increased, with 7.8% of those questioned now pessimistic about the prospects for the market compared with 6.5% in January.
Andy Gray, head of lending for the Woolwich, said: "Global events can play a major part in impacting individual sectors of the economy and the housing market is not immune to wider uncertainty."
Friday March 14 2003
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