5 Jan

Property prices 'more accessible'

Property prices 'more accessible'

Property prices in the UK have become more accessible over the past year, one specialist has claimed.

Helen Adams, managing director of FirstRungNow, noted that some buyers have been able to take advantage of the economic downturn and purchase property as a long-term investment.

However, she pointed out that first-time buyers are still struggling to get a foothold in the market.

"The reason that there are still so few first-time buyers is that mortgages are so difficult to get hold of," Ms Adams commented.

She explained that many people are unable to raise the funds for a deposit without the help of their parents, adding "it is very difficult to buy a house in your own right at the moment".

In December 2009, the National Association of Estate Agents (NAEA) revealed that the number of first-time buyers attempting to enter the market had reached its lowest level for 12 months.

The NAEA research found that first-time buyers made up just 19 per cent of registered purchasers in November 2009.ADNFCR-1222-ID-19541187-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.