More confidence shown in property buying

Posted: 18 Jun 2009 12:31:54 GMT

The Building Societies Association (BSA) has revealed that the number of people who are confident about buying a home has increased over the last three months.

Research from the organisation suggested that 59 per cent of consumers agree or tend to agree that now is a good time to purchase a home.

In March this year the BSA recorded this figure at 54 per cent, while one year ago only 27 per cent of people were confident about putting their money towards bricks and mortar.

Head of mortgage policy at the BSA Paul Broadhead remarked: "People clearly recognise that with both property prices and mortgage rates having fallen, there are potential bargains to be found meaning that now is a good time to buy."

The National Association of Estate Agents recently reported a similar sentiment among UK consumers. Chief executive of the group Peter Bolton-King said that first-time buyers started showing more confidence in the housing market earlier this year.


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