Confidence in UK housing market falls to five-year low

Halifax survey sounds new warning over health of UK economy with 1 in 5 thinking prices will drop amid rising inflation and looming interest rate hike

Confidence in the UK housing market has slipped to its lowest level in five years, sounding renewed warnings over the health of the economy.

One in five British adults surveyed by the Halifax bank expect house prices will fall in the next year, in the weakest reading for consumer expectations since October 2012. Young people under the age of 25 and those living in London are found to be least optimistic.

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