"Green shoots" appearing for first-time buyers

17-Jul-2009

"Green shoots" are appearing in the first-time buyer market - one that has been "bleak" recently.

This is the opinion of Jon Brown, partner relationship manager at change of address service iammoving.com.

He said the fear of house price drops has soothed a bit, as people see the issue as a "slight" rather than "major" problem.

The desire for home ownership will eventually force the government, lenders and developers into creating more options for those who want to get on the property ladder.

Mr Brown added: "People still want to own homes, it just seems that the lack of financial options and the attitude toward new building projects ... is making it increasingly difficult."

His comments follow recent figures published by Communities and Local Government, which showed that the average price paid for a property by a first-time buyer in May was £137,013.

This compares to the UK average of £188,991 in May, or the first-time buyer average in April, which was £135,416.

FirstRungNow.com - how to buy a house, from finding your first flat or first house, first time buyer mortgages, shared ownership, buying with friends, gifted deposit, part buy part rent - all a first time buyer could possibly need.

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