Attitude towards buying residential property in the United Kingdom 2016-2023

According to a survey conducted among 2,000 adults in the United Kingdom (UK), in December 2023, people were generally pessimistic about the prospects of buying a residential property. Asked whether they think now is the time to buy, approximately 16 percent of respondents said they agree, while 41 percent said they disagree. In contrast, between June 2020 and September 2021, the opposite trend was observed. Some of the reasons had to do with policies introduced in response to the coronavirus (COVID-19) pandemic, such as freeze of the income tax thresholds, extension of the furlough scheme, stamp duty holiday, the mortgage guarantee scheme, and the low mortgage rates.