Just 39% of the 2,000 adults surveyed named access to sufficient mortgage finance as an obstacle to buying a house, compared to 46% in June and close to 60% in the years immediately after the credit crunch.
It was the lowest proportion recorded by the BSA since it began the survey in June 2008.
One-in-five now described the housing market as ‘recovering’ and a further fifth said it was ‘stable’, the poll found.
BSA director-general Adrian Coles said the research confirmed signs that the market was recovering: “We are however, still clearly in recovery mode. The cautious words of those who have been sounding warnings about a market already at risk of overheating need to be listened to, but it would be wrong to take any steps at this point that might damage the recovery in its early stages.”
The high profile of the Help to Buy equity loan had helped boost consumer confidence, he added.
The proportion of consumers who believe house prices will increase has jumped to the highest levels since the BSA survey began.
However, just 2% across the UK believed their local property market was overheating. Even in London, only 7% expressed concern.
Building a deposit remained the greatest problem for potential buyers, with 59% of those surveyed naming it as a barrier to house purchase. Among first-time buyers, this proportion rose to 66%.
Legal, valuation and other ‘official’ costs along with finding a property were also increasingly seen as obstacles in the buying process.
Nearly 30% of first-time buyers said they hoped to be able to use government schemes such as Help to Buy. However, 16% appeared to be unaware of these schemes’ existence.
