Majority of Brits would not buy property now
The majority of Brits do not believe now is a good time to buy property, which could lead to some improving their current homes instead.
According to the Building Societies Association (BSA), just 45 per cent of respondents to its latest survey believe that investing in a new house now would be beneficial.
The figure represents a fall from 49 per cent in March and shows that, rather than gaining confidence in the market's recovery, people may be losing it.
BSA head of mortgage policy Paul Broadhead explained that the feeling of negativity could be a reflection of concern over the state of the economy and the new coalition government's plans.
"Fifty-five per cent of people surveyed still consider job security a barrier to buying property, followed closely by the ability to save for a deposit (53 per cent)," he said.
In other news, the Council of Mortgage Lenders recently revealed that lending to first-time buyers is at its lowest point since September 2007.
Posted by Ashley Ault
First-time buyers still struggling for mortgages
Brits trying to decide whether to move or improve may be interested in the latest statistics from the Council of Mortgage Lenders (CML).The figures show that first-time buyers now make up the lowest proportion of home loan approvals...
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