Nearly 30% believe 'now is a good time to buy a house'

Almost a third of people in the UK believe that now is a good time to buy a house, according to new research.

The study by the Building Societies Association (BSA) found that 27 per cent of people either strongly agreed or tended to agree with the statement that it was the right time to buy property.

It was also revealed that of the people who felt now was a good time to buy, only a third felt the risk of falling house prices was an obstacle to doing so.

Adrian Coles, director general of the BSA, said: "A significant proportion of respondents said that 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 release of research by the BSA has come after the principal consultant of banking for Defaqto, David Black, said that speed "is of the essence" for borrowers searching for a good deal.

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