View more on these topics

Consumers worried about 2017 housing market: BSA

Consumers are worried housing market stability could be hit next year by rising living costs and  interest rates, the Building Societies Association says.

The BSA’s latest property tracker survey results show that the post-Referendum spike in property market confidence was short lived.

The BSA says fewer consumers believe now is as a good time to buy property than three months ago.

Home-House-Money-Property-700x450.jpg

The survey, carried out by YouGov for the BSA, found that equal numbers of people (38 per cent) are worried that an increase in the cost of living  or an interest rate rise could adversely affect the housing market next year.

In pre-Referendum June, 28 per cent of consumers agreed that it was a good time to buy a property while 27 per cent disagreed.

September saw some return of confidence, with 31 per cent agreeing it was a good time to buy versus just 21 per cent disagreeing.

However, in the most recent survey the proportion agreeing had reduced to 27 per cent while 22 per cent disagreed.

BSA chief economist Andrew Gall says: “While over a quarter believe it is still a good time to buy property, some have concerns about the stability of the housing market next year linked to the rising cost of living and borrowing costs.

“Inflation is expected to pick up in 2017 whilst wage growth remains weak, so these concerns are not misplaced.

“There is a great deal of uncertainty around the strength of the UK economy since the vote to leave the European Union, and this is reflected in the Property Tracker results.

“Potential house-buyers will understandably want to have as clear an idea as possible of the impact on their finances before making significant decisions.”

Recommended

Houses-House-Money-Notes-10-700.png

Building society lending strong but slowing: BSA

The rate of lending growth by building societies slowed in the third quarter, according to figures from the Building Societies Association. The BSA says its members approved 110,129 new mortgage loans between July and September, up 6 per cent on the 103,758 mortgage loans approved in Q3 2015. BSA members approved 118,600 mortgages in the […]

Bricks building housing construction

BSA promotes offsite housing construction in new report

The Building Society Association has said that utilising offsite construction to build homes is the one solution to the UK’s housing crisis. In it’s ‘Laying the foundations for Modern Methods of Construction’ report launched today at the BSA lunch, the association says that this building method offers a way of providing well designed, high quality, affordable homes […]

Paul-Broadhead-Binders-700x450.jpg

BSA calls for more Government action on affordable houses

The Building Societies Association is calling on government and financial services to help build more affordable homes in the UK following a report that says home ownership levels are at a 30-year low. The BSA says the Resolution Foundation report’s findings are the result of high housing demand, lack of local authority homes and reduced […]

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Pension freedom: wish you were here?

Out there lies a warm ocean of desert islands, sun, sand and palm trees, where individuals can choose how and when to tax-efficiently access their pension fund and realise the retirement dreams they have worked so hard for.

Guide cover

Guide: how to… communicate with your pension members

Effective communication of your pension scheme is a large part of getting auto-enrolment right. Delivering the same message to all employees is not necessarily the way to go. To assist you with the communication of your pension scheme, we have provided some key areas to think about, such as:

  • What to consider when segmenting your workforce
  • How to communicate to pension scheme members at the right time in their member lifecycle
  • What topics you should be discussing with your pension members
  • The new pension freedoms and the importance of communicating them

Newsletter

News and expert analysis straight to your inbox

Sign up