Home Sale Pack commissioned a survey revealing that most current buyers are delaying their search until they understand political intentions towards the housing market before the general election.
The survey shows that 82% of buyers are waiting for Jeremy Hunt’s Spring Budget statement before deciding whether to buy a new home.
Buyers hoped the government would introduce homebuying incentives in the Budget. 52% wanted pro-homebuyer policies like 99% mortgages or stamp duty relief.
However, the Budget didn’t include any such incentives. Yet, despite the disappointment, 78% of buyers still plan to move forward with their purchase.
Only 14% are further delaying their decision due to the Budget, and just 8% have abandoned their homebuying ambitions because of the lack of incentives.
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