Property investors in the mid to high end of the market don't have to worry so much about obtaining and financing mortgages and are therefore more upbeat and confident, the survey from property consultants, CKD Galbraith found.
It is based on the fact that 78% of potential buyers do not have to sell a property to fund a purchase in this sector and therefore don't feel the pressure from restricted mortgage lending.
Of those who do require a mortgage less than 5% found it more difficult to obtain finance in the current climate and there was 100% confidence in securing a mortgage.
But buyers are not ignoring the economic climate. Some 40% said they have become more cautious on timing, 27% admitted to being more price sensitive and 30% said they were looking out for what they would class as a potential bargain.
'Results from our survey are extremely encouraging and indicate that there remains a large number of potential buyers in the mid to high end of the market for whom funding and confidence are of no concern,' said Alasdair Mackenzie, head of CKD Galbraith's Edinburgh residential department.
'A common thread amongst our buyers is that there is frustration at the lack of decent housing stock currently on the market as a result of undue pessimism. However, whilst buyers are more discerning, they would be keen to make an acquisition if the right property became available and some are keeping an open eye for any potential bargains given the current market trends,' he added.
The consultancy believes that the autumn will still be an active selling period before the traditional festive slowdown. Property worth between £500,000 and £1 million is likely to be the most active sector with around half of buyers looking in this price range.
