According to a new survey for Barratt the shortage of homes for sale has become the biggest barrier to house hunters.
The survey of 2,275 home buyers in Britain suggests that finding a home to buy has become a more of a burden than ever with 30% of respondents saying it was difficult. It was also revealed that 32% have been looking for a house for more than six months.
Whereas finding a mortgage used to be one of the biggest obstacles in the housing market. Now it appears that supply is the biggest challenge. The survey found that the number of respondents citing finding a mortgage as difficult has halved in the year to 15% and similarly those struggling to sell has reduced from 35% to 17%.
The survey also noted that the Government's NewBuy scheme is not well known with 65% unaware of the scheme - but 12% did know about it and were intending to use it.
"There has clearly been a shift in the market with a growing belief that the availability of mortgage finance has become a little easier," said Barratt ceo Mark Clare. "That's got to be good news for home buyers."
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