The survey of 1,225 UK homeowners commissioned by the property purchasing specialist found that 89% of homeowners were worried about the current rate of inflation - which is expected to rise in the coming weeks.
The biggest worries held by homeowners were soaring utility costs as well as fuel and food costs. Increasing mortgage costs were far less of a concern, along with the broader costs associated with lifestyle and entertainment.
Despite inflation fears, the wider economic picture seemingly hasn't yet dampened the housing market. Only 22% stated they were worried that the value of their home might fall in the coming months.
However, a property stock drought could still be on the cards with 96% of respondents saying they would be less likely to sell if the value of their home decreased.
Chris Hodgkinson, HBB Solutions managing director, has commented:
“Despite many households enduring an incredibly tough time at present, a high level of confidence remains in the property market. While we’ve seen signs that the market is starting to cool, there’s certainly no evidence that a market crash is imminent.
“Of course, it would be naive to expect that such a turbulent economic outlook will have no impact on the housing market and it's inevitable that some form of house price correction is on the horizon following such a heightened period of activity.
“So those considering a sale may want to do so sooner rather than later to ensure they hit the market while it remains robust and prices are still holding strong.”
