Unfortunately recent research by the Building Society Association appears to show the number of people that think now is a good time to buy a house has declined to the lowest level since June 2008.


The Building Society Association research suggests that only 29% of potential home buyers think it’s now a good time to buy a home a figure that was closer to 40% three months ago.


The research suggests the market is limiting itself before the perceived property bubble overheats, this in turn implies the interventions of the Bank of England may not be necessary.


Although 62% of Londoners believe London is experiencing a housing bubble whereas only 20% believe there is a housing bubble across the rest of the UK.


House prices are rising across the country however they still remain under the peak of 2007 and it’s possible the scrutiny and interventions to slow down the London housing bubble could be having a knock on consequence on the rest of the UK market in the short term. Building new houses is seen as the best solution to the issue and the government have implemented several changes to the planning regulations to help this happen.


Paul Broadhead, head of mortgage policy at the BSA said ‘The single biggest issue in the market remains lack of supply. The population is increasing, household sizes are falling so there are more of them and all of this is leading to the pressure on prices which we are seeing in varying degrees across the country,’


Whilst the Building Society Association has an interest in keeping the market buoyant so their members can continue to lend, it may be important for organisations within the construction sector to consider the potential coming changes to the housing market whilst it continues to demonstrate growth.