A third of people across the country (33%) expect house prices to fall over the next 12 months, up from 24% in June 2019, the BSA’s Property Tracker Survey has found.
Meanwhile just 23% of the population believe that house prices will rise.
Paul Broadhead (pictured), BSA head of mortgages and housing, said: “With the level of political uncertainty the country is experiencing, it is unsurprising that consumer confidence in the housing market, amongst other things has taken a knock.
“In the coming weeks and months, as we find out what shape Brexit will take, we are hopeful that confidence and stability will begin to return.
“We will be monitoring closely the barriers to homeownership. It is positive that raising a deposit has become a slightly lesser concern to would-be homeowners, but with the Help to Buy ISA scheme drawing to a close from November this could easily change.
“Some are turning to a Lifetime ISA (LISA) which follows a similar structure to the Help to Buy ISA. Currently 3 of the 4 cash LISA providers are building societies.
“Aspiring homeowners are encouraged to speak to their local building society to find out their best options, and how to make the most of their savings when raising a deposit for that all-important property purchase.”
Some 27% in the north east of England expect prices to fall. This compares to 40% of people in the east of England, well above the national average of 33%.
Raising a deposit has been the biggest barrier to homeownership since the Property Tracker survey began over a decade ago.
Although it remains the biggest barrier at 60%, it is down from 64% in June – and is now the lowest it has been since December 2015.