The Building Societies Association (BSA) property tracker shows considerable uncertainty and contrasting views remain on the UK housing market although enthusiasm has waned, with 43% of non-homeowners inclined to buy against 58% last year. However, 26% disagreed, and 24% neither agreed nor disagreed.

Average house prices are expected to be the same level in a year’s time, although 33% thought that prices would rise, while 36% believe prices will fall in the next 12 months. However the majority still think property is overvalued, with 25% saying property prices have been inflated by 25% or more.

Most people would not wait long to enter the market, if they could. Around 59% would buy immediately or within the next year, given sufficient resources, and a further 11% would buy in the next twelve months with 12% willing to wait for two years or more.

This suggests that even if prices are due to fall, the majority expect them to bottom out within two years, said the BSA.

Paul Broadhead, head of mortgage policy at the BSA said: “Although the housing market remains uncertain, the public does not expect house prices to fall as dramatically as they did two years ago.

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“However, barriers remain that might prevent potential buyers from acting on these perceived opportunities. Worries persist about job security, the ability to raise a deposit, and obtaining a mortgage from lenders. These factors might inhibit demand for house purchase from growing as strongly as it might.”