Confidence in buying edges up

Consumer confidence in the housing market increased slightly in June, according to the latest Building Societies Association Property Tracker.

The quarterly survey reveals 21% of people do not think now is a good time to buy, down from 29% in March, while 41% believe it is a good time to buy, the same proportion as in March.

While a lack of job security remains a major barrier to prospective buyers, it was regarded as an impediment to home buying by 48% of respondents in June, down from 57% in March.

The proportion of people concerned about future falls in property prices also decreased, down from 24% in March to 19% in June.

Paul Broadhead, head of mortgage policy at the BSA, says: “There appears to be a little less negativity in consumers’ opinions on the housing market, but it remains to be seen whether this is just a blip or the start of a trend.”