Confidence improving in housing market
Consumers may start looking at buy-to-let properties soon as confidence slowly returns to the market.
The latest Building Societies Association (BSA) Property Tracker has suggested that the outlook for the sector has improved.
While the proportion of respondents that believes now is a good time to buy has stayed at 41 per cent since the last survey in March, there has been progress among those who think now is a bad time to purchase property.
In March, 29 per cent of people questioned did not believe it was a good time to buy a house; this has now dropped to 21 per cent.
Paul Broadhead, head of mortgage policy at the BSA, said: "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."
He added: "People are a slightly less nervous about the outlook for the jobs market, and are less inclined to think that house prices are going to fall."
The BSA's report also revealed that the biggest deterrent to purchasing a property was raising sufficient funds to place a deposit, cited by almost two-thirds (62 per cent) of respondents.
More than half (53 per cent) were also concerned about mortgage availability.
However, Mr Broadhead claimed that this "barrier to potential buyers might reduce in the months ahead as a greater number of higher LTV products come onto the market".
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