Almost half of buyers will delay property search until after Autumn Budget, research finds
The survey found 27% had already delayed or paused their search, while 21% remained undecided.
Almost half of UK homebuyers paused their property search or were considering doing so until after the Autumn Budget, research from House Buyer Bureau found.
The survey found 27% had already delayed or paused their search, while 21% remained undecided.
The remaining 52% plan to continue searching as normal.
Mortgage rates were the main concern among those waiting, cited by 23%.
18% said they were concerned about higher taxes or buying costs, while 18% were waiting to see whether Stamp Duty would change.
Data also showed that 15% want more certainty before making a financial commitment and 13% think the Budget could affect house prices.
Just 8% said they are waiting for financial support or incentives, while 5% hope for more help for first-time buyers (FTBs).
Among those delaying their plans, 54% browsed properties online, 19% contacted estate agents and 12% attended viewings.
Only 15% had not started their search, meaning 85% had taken some action before deciding to wait.
Chris Hodgkinson, managing director of House Buyer Bureau, said: “Autumn Statement speculation has become an almost annual headache for the property market and uncertainty over what might be announced can cause buyers to think twice before making such a significant financial commitment.
“For sellers, the concern is that we’re not just talking about would-be buyers who haven’t started looking yet.
“Many of those choosing to wait were already browsing the market, contacting agents and even attending viewings before deciding to sit on the fence.”
Hodgkinson added: “Once the Government has shown its hand, some of this uncertainty should lift and buyers may well return to the market.
“But until then, sellers could face an even tougher battle to secure a buyer and, for those who simply can’t afford to wait, the speed and certainty of a guaranteed sale may become increasingly important.”
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