- 22 March 2021
- Posted by: mikey0809
- Categories: Mortgage, Property
People ask by Building Societies, nearly half – 42% – say the government’s mortgage guarantee scheme has made them feel more positive about the housing market.
This number has jumped to 59% of the over 2000 people polled by the association, for first-time buyers.
Adding to this, 40% of people feel more hopeful about the market thanks to the stamp duty holiday extension, and 33% feel the same way becuase of the extension of the furlough scheme.
All in all, 37% people believe that now is a good time to buy a property, which compares favourably to the 27% of people who replied in the same manner last December.
This is the highest positive attitude level seen in its property tracker data series since March 2015, says BSA.
On the negative side of things, job security is anticipated as being the biggest hurdle to home ownership.
This month, 59% of those asked named it as the main ownership barrier, down from 65% in December.
BSA head of mortgage and housing policy Paul Broadhead says: “It’s great to see public confidence in the housing market returning. The vaccination rollout and the publication of the government roadmap for easing Covid-19 restrictions are likely to have impacted this, but it’s also clear that some measures announced in the Budget, including the government-backed mortgage guarantee for those with small deposits and the stamp duty holiday extension, have been significant contributors to the growing optimism.
“The extension to the furlough scheme has also stimulated confidence overall. However, we should be mindful that the full impact the Covid-19 pandemic will have on the economy is still unclear and there’s strong evidence that the effect on household finances varies considerably, with those on lower incomes most negatively impacted.”