20 Jun

First-time buyer confidence 'remains high'

First-time buyer confidence 'remains high'

Research from SmartNewHomes.com has suggested that confidence among first-time buyers remain high.

In contrast to previous studies, which found that many people are putting off purchasing their first home until the market stabilises, only 13 per cent of respondents in its survey said they would be put off buying a property due to the current financial climate.

Meanwhile only eight per cent thought they would have to pay more that £200,000 to secure a property, while 46 per cent are intending to buy alone.

However 66 per cent of people did cite high prices as the main barrier to them getting onto the property ladder.

David Bexon, managing director of SmartNewHomes.com, commented: "While some first time buyers' perceptions of affordability may be unrealistic, competitive prices are still achievable and the recent cooling of prices has increased accessibility."

Yesterday HBOS, the UK's biggest mortgage lender, predicted that house prices will fall by nine per cent this year.
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