20
Jun
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.
