Confidence in property market plummets

Recent findings from a YouGov poll commissioned by the Building Societies Association (BSA) reveal a significant decline in confidence among potential homebuyers. Only 17% of respondents believe now is a good time to buy, a drop from 20% three months ago. The increase in stamp duty, which now affects more buyers, has been cited as a major barrier, with 30% of participants identifying it as a key obstacle. Paul Broadhead, head of mortgage and housing policy at the BSA, said: "It's not surprising that sentiment in the housing market has declined overall," as he highlighted the challenges faced by first-time buyers. Despite recent reductions in mortgage rates, affordability remains a pressing issue, with 61% of respondents indicating that high mortgage payments are a significant barrier to homeownership. Broadhead emphasised the need for "radical changes" to improve long-term affordability in the housing market. 

Daily Mail (22/04/2025)