Supply becomes biggest barrier in housingmarket

March 1, 2013
The shortage of homes for sale has become the biggest barrier to house hunters according to a new survey for Barratt.<br> <br> The supply issue has surged ahead of raising a deposit, finding a mortgage and selling your home – all of which were seen as bigger obstacles to the smooth operation of the market a year ago. <br> <br> The survey of 2,275 home buyers in Britain suggests that they have seen an easing in the mortgage market and more confidence prompting home sales. But 30% of respondents say finding a home to buy has become a challenge and 32% have been house hunting for more than six months.<br> <br> The number of respondents citing finding a mortgage as difficult has halved in the year to 15% and similarly the number struggling to sell has reduced from 35% to 17%.<br> <br> The survey found that NewBuy is not well understood with 65% unaware of the scheme – but 12% did know about it and were intending to use it. Many respondents are overestimating the amount of deposit they need to purchase a home, according to Barratt.<br> <br> "There has clearly been a shift in the market with a growing …

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