Consumer confidence in housing market 'still low'

Posted: 16 Sep 2010 10:44:12 GMT

Consumer confidence in the housing market is still low, despite improved access to mortgages, a survey has indicated.

According to the report by the Building Societies Association (BSA), the number of consumers who do not think it is a good time to purchase a dwelling has risen from 21 per cent in June to 26 per cent in September.

Head of mortgage policy at the BSA Paul Broadhead said concerns about falls in property prices are having an impact on confidence levels.

"The BSA is urging the Financial Services Authority to move cautiously on the final shape and implementation of the proposed Mortgage Market Review," he added.

Job security was perceived to be the main barrier to buying an abode.

Earlier this week, Andy Pratt, chief operating officer at Alexander Hall, suggested mortgage figures will drop before there is a rebound in the next few months.

He remarked the market reached its lowest point in August and it should start to ease soon.
 

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