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Confidence in housing market drops
Confidence in the UK housing market remains fragile, according to latest findings from the Building Societies Association's (BSA's) Property Tracker.
Less than half of the people questioned (49 per cent) said that now is a good time to buy property, despite the fact that property prices are expected to rise by 2.2 per cent over the coming year.
In December 2008, 58 per cent of people said that it was a good time to purchase a new home.
Commenting on the report's findings, Paul Broadhead, head of mortgage policy at the BSA said: "It is no surprise that people are uncertain if now is a good time to buy property.
"Potential buyers will be waiting to see the effect on the property market of the end of the Stamp Duty holiday. The forthcoming budget and general election provide further levels of uncertainty to potential homebuyers."
According to FindaProperty.com's latest research, the average first-time buyer property is available for £154,720, a rise of 0.4 per cent from £154,036 in February.