Property investment - 27% think now is the time to buy

A survey of potential UK property investors has uncovered an opinion split over whether now is a good time to invest in property. The first quarterly Property Tracker poll from the Building Societies Association (BSA) found 51 per cent of people believe now is not a good time to invest.

However, 27 per cent of people agreed that the current period is an opportune moment to splash out. The new survey will also track which factors are currently considered to be the greatest barriers to house purchases, with most mainly worried about being able to keep up repayments on a property.

BCA director general Adrian Coles said:

“People often view property buyers as a single group. However, the Property Tracker survey shows that is not the case, and while most people don’t believe now is a good time to buy, more than one in four people believe the opposite.

“A significant proportion of respondents said expected future falls in property prices are a reason not to buy. However, the fact that a lack of job security was relatively unimportant in preventing property purchase suggests that concerns about the wider economy are not currently undermining the housing market.”

The BCA represents the entire UK building society sector and expects to publish its next set of Property Tracker figures in September.

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