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Nottingham Worst In UK For Housing Market Confidence

New research carried out by The Legal & General Mortgage Club in conjunction with the Centre for Economics and Business Research, has revealed Nottingham as Britain’s most pessimistic city when it comes to the housing market.

Just a third of homeowners in the city think they’ll get a fair price for their property while half feel they’d get less than a fair price if they were to sell now.

3% are very confident in buying a house today compared to 5 years ago, while a tiny 1.5% feel the market will be much better in a year’s time with two thirds thinking it’ll be just the same.

But with Nottingham’s homeowners also being the most worried about their income when it comes to applying for a mortgage in the next 12 months, housing experts are now recognising that the problems faced by Nottingham clearly reflect the issues faced elsewhere in the country.

We’ve been looking at the research with leading industry figures who believe that by tackling the pockets of pessimism that still exist across the UK, a full market recovery will be possible. The majority of problems stem from a lack of confidence in the market, the banks and the economy as a whole, so we’ve been investigating how these issues can be addressed.

This was posted in Bdaily's Members' News section by Independent Media News .