21 May

First-time buyer confidence 'a significant indicator'

First-time buyer confidence 'a significant indicator'

The apparent return of first-time buyer confidence is "one of the best indicators of confidence" in the housing market, according to independent mortgage adviser John Charcoal.

A representative from the firm, Ray Boulger, said that "significantly more" first-time buyers have returned to the sector since the turn of the year.

His comments come after the John Charcoal Index revealed "a sharp increase in the proportion of purchases made by first-time buyers" during the opening four months of 2009.

It was stated that the proportion of first timers was three-and-a-half times higher than in the previous four-month period.

There were a "surprising number" of people who found the money to pay for a 25 per cent deposit on a mortgage, Mr Boulger added.

Earlier this week, the National Association of Estate Agents' Housing Market Report showed there were more first-time buyers involved in property transactions in April than in the same month in 2008.

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