According to the recent Property Tracker report from BSA, only 49% of respondents believe that now is the right time to make aquisitions, compared to 58% in the last month of 2009.

The major barriers to purchasing property most frequently mentioned are the problem of obtaining a large enough mortgage to purchase a house(57%), inability to save up a sufficient deposit (56%), and, finally, the lack of job security (56%).

The latest unemployment figures turned out to be more positive than it was expected, but professionals maintain that unemployment is likely to increase after the General Election, and this scares away potential homebuyers.

One of them, Brian Johnson from HW Fisher Chartered Accountants, expresses his fear that such figures could be the calm before the storm, which will break out later this year. He adds that the recovery from recession will take longer and will appear to be even more difficult that the recession itself.

Nevertheless, despite incertitude in the short-term, 59% of UK citizens still believe house prices will rise over the next year, while only 10% are sure they will fall.

According to the comments of Paul Broadhead from the BSA, it is not surprising that consumers are uncertain if it is reasonable to buy houses now. Prospective purchasers will be waiting for the changes in the property market when the Stamp Duty holiday is over. The fast approaching budget and general election give grounds for more uncertainty to them.

However, there are hopes for the recovery of the housing market because many people think that property is still a good investment. There is a probability that as soon as the election is over, buyers will be back on the market.


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