A market study by the trade body found the number of consumers who believe monthly mortgage payments are too high has fallen significantly in the last 12 months.
A year ago almost half of consumers (49%) believed repayments would be too high compared to 33% today – the lowest level since 2009.
During the same period average mortgage rates have fallen from 3.73% in June 2014 to 3.19% today.
As house prices continue to rise, raising a deposit remains the biggest barrier to home ownership. However, other issues such as lack of job security are less prevalent than a year ago.
More than half of people surveyed (56%) believed house prices would rise in the next year.
Some 12% of people said it was not a good time to buy a house – the lowest level recorded since the survey began in 2008.
Paul Broadhead, head of mortgage policy at the BSA, said: “While it is good news that sentiment remains robust in the housing market, we are still seeing some uncertainty.
“The number of people who believe now is a good time to buy a property has fallen by a few percentage points in the past quarter – possibly a result of the prospective Bank Rate rise towards the end of this year or early next.
“That said, with competition returning to the market, it is pleasing that prospective buyers now have more options when they do take steps to owning their own home. Just last week, data from Moneyfacts revealed that building societies were winning the mortgage war when it comes to rates.
“The average building society rate is 2.98%, 0.21 percentage points lower than the market. We encourage everyone to shop around if they are looking to get a mortgage. If they do, they are more likely to get a better deal.”