Optimism on the housing market is increasing according to the latest property tracker survey by the Building Societies Association (BSA). Back in June 2007 only 27% of people surveyed believed it was to some extent a good time to purchase a house. This increased to 46% in the December BSA survey and in the most recent survey increased again to 54%.

The biggest barriers to home purchases are the same now as they were in December, namely raising a large enough deposit, obtaining a sufficient mortgage loan & job security.

It seems the fact that property prices have fallen considerably over the last year and that interest rates have dropped has led to increased interest in property purchases, in spite of the fact that general opinion is that property prices will continue to fall. It is the current economic outlook that is still discouraging people, and it could take an improvement here before purchase figures start to dramatically increase