19 Jun

BSA: More people confident about property buying

BSA: More people confident about property buying

More UK consumers agree or tend to agree that now is a good time to buy property, according to new research.

Comparing surveys from March and June, the Building Societies Association (BSA) said there has been an increase in the number of people who think buying a property at this current time is a positive move.

The group indicated that there was a five per cent hike (from 54 to 59 per cent) in the number of consumers thinking this way.

Back in June 2008, only 27 per cent showed this confidence in the market.

Paul Broadhead, head of mortgage policy at the BSA, 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."

Earlier this month, property group Hometrack reported that the average UK property cost was £155,600 in May.
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