Mortgages - Mortgage positivity - 17/09/2009

A study from the Buildings Societies Association (BSA) has revealed that UK consumers are feeling more positive about the state of the property market.

Data collected from the group showed that the main obstruction to property ownership was employment worries, with 58% stopping from buying a home for this reason.

49% of those questioned thought mortgage access, or lack of it, was a barrier to owning a home, which was lower than the 55% of people who said that mortgage access was a barrier in June. Thus, there has been a drop in negativity towards the housing sector.

As a result, 58% think that now is a good time to buy as prices are anticipated by consumers to rise over the coming year.

Paul Broadhead, head of mortgage policy at the BSA, said despite signs of growing confidence, forecasts of increasing unemployment in 2010 mean job uncertainty is “likely to remain a critical, negative influence on the confidence of house buyers.”

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