First time buyers boosted by inflation figures

13-Sep-2005

Data released by the government has revealed a continued fall in house price inflation, with figures dropping by a fifth compared with results for June.

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The Office of the Deputy Prime Minister (ODPM) confirmed that prices had increased by only 1.1 per cent between June and July, with inflation falling in all regions across the UK except the west midlands.

First time buyers will welcome the current slowdown of inflation in the housing market, as it provides them with a better chance of getting a foot on the first rung of the property ladder.

Mortgage lenders, keen to increase activity in the market, are currently targeting aspiring homeowners with low rates and competitive deals, making it an ideal time for buyers to invest in a property either jointly or on their own.

Click here to find out about the finances of borrowing with friends, i.e. to find out how much you can borrow together and what it will cost you

The data released by the ODPM is considered to be a reliable indicator of house prices and analysts agreed that the results pointed towards inflation slowing in a "relatively orderly fashion".

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