Consumer confidence maybe stabilising according to a new report from the Woolwich. It says consumer confidence fell by one per cent last month but it was smallest month on month fall for seven months.

Currently, around 39 per cent of homeowners believe that their property will continue to increase in value.

Andy Gray, head of mortgages at Barclays and The Woolwich, pictured, said: "Last month we predicted that confidence would start to stabilise as we enter into the New Year, these latest figures suggest that this may be starting to happen."