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Some 69% of a panel think now is a good time to buy

Some 69% of FindaProperty’s MyHomeLife consumer panel believe that now is a good time to buy a property.

In addition, almost half of buyers surveyed (46.2%) have a deposit of 25% or more. This will enable them to access the better value mortgage products on the market and avoid one of the major barriers currently being experienced by younger buyers (raising a deposit).

FindaProperty also believes that rising consumer confidence has also buoyed market activity levels as buyers race to beat price rises.

Michael O’Flynn, director of FindaProperty, said: “It’s great to see people feeling bullish about the property market again. Our confidence poll gives further weight to the argument that buyers see now as the time to buy and this is reflected in the soaring visitor numbers to our website. The fact that such a large proportion of buyers have access to over 25% deposits suggest it is people wishing to trade up who are dipping their toes into the water first. Although 40% of those polled believe the market will take three to four years to fully recover, we would still like to see a loosening of lending criteria. This will allow first time buyers to take advantage of house prices before they rise too far.”

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