Autumn Statement uncertainty is prompting some prospective buyers to pause their property searches. New research suggests the property market could face a temporary squeeze on active demand.
The survey questioned 1,193 current homebuyers in England. It was carried out by ProperPR on behalf of House Buyer Bureau.
It found that 27% have already decided to delay or pause their search until after the government’s fiscal announcement.
A further 21% remain undecided. That means 48% are either holding back or considering doing so.
However, a narrow majority – 52% – said they are continuing their property search as planned.
The findings suggest uncertainty over tax, mortgage rates and potential housing measures is influencing buyers. Some had already entered the market before deciding to wait.
Of those choosing to hold back, 54% had started browsing properties online. Another 19% had contacted estate agents, while 12% had already attended viewings.
Just 15% had yet to begin their property search.
For agents, this suggests some buyers who had already entered sales funnels are temporarily stepping back. The slowdown is therefore not confined to people who had yet to start looking.
Mortgage rates dominate concerns
Mortgage rates were the most commonly cited reason for delaying a purchase. They were mentioned by 23% of respondents who are waiting.
Another 18% are concerned about potential changes to taxes or the wider cost of buying. The same proportion are specifically waiting to see whether the government changes Stamp Duty.
Some 15% said they wanted greater certainty before making a major financial commitment. Meanwhile, 13% believe the Autumn Statement could affect house prices.
Only 8% are holding back in anticipation of government financial support or incentives. Just 5% are specifically waiting for additional help for first-time buyers.
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.
“Once the government has shown its hand, some of this uncertainty should lift and buyers may well return to the market.”
