The survey found that 54% of people believe that to some extent now is a good time to buy property in the UK. This proportion has grown consistently since June last year when just 27% believed it was a good time to buy property, and is a further improvement on the 46% who thought so in the last Property Tracker in December.
With property prices having fallen by more than 17% over the past year according to the Nationwide, it is clear that would-be buyers are starting to recognise there are bargains to be found.
The decline in interest rates has also seen a decrease in mortgage costs, further encouraging people back to the market.
But on the flip side, respondents feel barriers to buying a home remain. Concerns about their job prospects is seen as the main barrier for many. Difficulties in securing a big enough mortgage and problems saving for a deposit are also major hurdles.
So although the survey shows increasing numbers of people are interested in buying a property, it is clear the declining economic situation and funding issues are viewed by potential buyers as the biggest hindrance.
Until economic confidence improves and the supply of mortgage funding increases, it is hard to see any change, and buyers will remain reluctant to purchase.