Mortgage finance is biggest threat to property market
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One in three homeowners believe mortgage availability is the biggest threat to the property market, according to the Zoopla.co.uk Housing Market Sentiment Survey.
Over a quarter say it is harder to get a mortgage now than three months ago but it is a mixed picture with 23% believing it is easier.
A total of 78% of homeowners think property prices will rise over the next six months, a drop of 3% on three months ago.
Surveying 5,442 homeowners researchers found the average respondent expects house prices to rise by 5.5% from current levels by the end of the year.
Nicholas Leeming, commercial director of Zoopla.co.uk, says: “Confidence amongst homeowners remains high for the time being, but the dip does signal a directional shift as concerns are building again around the outlook for the property market.
“The fear remains that the revival in the housing market will be derailed unless the banks make a concerted effort to increase lending. With job cuts looming in the public sector and interest rate hikes expected at some point, the new government has its work cut out for it to ensure that home ownership remains affordable and attainable for most people.”
In Scotland 84% expect house prices to rise in their area over the next six months, compared to 79% in England and 73 in Wales.
The Northern Irish are the most pessimistic with only 67% predicting house prices will rise over the next six months.
