In the trade body’s latest quarterly property tracker survey, it found that 28 per cent of respondents expect prices to rise next year. That’s up from 23 per cent at this time last year.
Respondents were also asked to highlight what they believed represent the biggest risks to stability in the housing market in 2020. Brexit was selected by 43 per cent of respondents, followed by a rise in the cost of living (36 per cent).
The result of the general election and weak economic growth were also pinpointed as significant potential risks (both 30 per cent).
The biggest barrier to homeownership according to respondents is still raising a deposit, which was picked out by almost two thirds (62 per cent), slightly up from the 60 per cent recorded in September.
Paul Broadhead (pictured), head of mortgages and housing at the BSA, said that “political uncertainty” had dogged market sentiment for sometime, noting that sentiment has been negative since June 2017.
He continued: “Raising a deposit continues to be the biggest barrier to homeownership. With the Help to Buy ISA now closed to new applicants, it will be interesting to see how the new government addresses the issue of helping people onto the property ladder, along with the wider housing crisis.”
The survey also looked into the issue of energy efficiency. Three quarters (77 per cent) considered it an important factor when purchasing a home, while one in four think the government should be responsible for improving the efficiency of the nation’s homes and two in five (42 per cent) believe it is down to the homeowners.
However the costs of relevant improvements represent a barrier to half of respondents, with more than one in two (54 per cent) saying that council tax reductions would incentivise them to improve their home’s energy efficiency.