According to the Building Societies Association something like 58% of people think it is a good time to buy a house, this compares with only 19% who think it is a bad time. The BSA carried out the same survey a year ago and only 34% thought it was a good time to buy at that time.
Uncertainty about job security and the lack of a large enough deposit are the main reasons holding people back. Despite that the survey indicates that people think that house prices will rise by around 1.6% in the coming year.
Landlords will also be interested to see that the number of houses being repossessed fell 9% in the quarter to June compared to the previous three months. The Financial Services Authority said that the sharply rising trend up to the end of 2008 has stabilised. Even so, 13,610 homes were repossessed in the period, a higher number than a year ago.
Estate agents are feeling much more cheerful according to the Royal Institution of Chartered Surveyors; They say that in August more agents reported house price rises than falls. Perhaps we will see buy to let investors coming back to the market- if they can raise finance from cautious mortgage lenders.