Economic optimism is at a three year low, according to new research from Ipsos Mori Loyalty, though Londoners are the least pessimistic in the country. Only 16 per cent nationwide believe the economy will improve in the next 12 months, while 57 per cent expect it to worsen. This net balance of minus 41 per cent is the lowest since December 2008. London registered the highest net balance, at minus 28 per cent, whilst the north and Scotland were most pessimistic at minus 48 per cent. “London is the only region which has seen house price growth over the last 12 months, and 2012 is Olympic year,” explained Ipsos Mori Loyalty’s Charles Adriaenssens.