Lack of job security 'a barrier to property buying'

Posted: 17 Sep 2009 10:05:53 GMT

Concerns about job security remain the most significant barrier to people buying property, according to new research.

The Building Societies Association's (BSA) Property Tracker survey found that 58 per cent of respondents felt this way, although the same percentage believed that now is a good time to buy a home.

It is perhaps no surprise that fears over unemployment dominate the survey as it was announced this week that jobless figures in the UK have grown again.

Office for National Statistics findings showed that unemployment rose to 2.47 million in the three months to July.

Commenting on the BSA survey, head of mortgage policy at the organisation Paul Broadhead said: "Buyers are clearly treading with care and worries over job security continue to deter many from buying."

However, he added that the property market is increasingly being seen in a positive light and there has been a perceived growth in mortgage availability.


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