First-time buyers faced with rising house prices in March

17-Mar-2010

First-time buyers have been dealt a blow by the news that the prices they are paying to get a foot on the property ladder have risen in March.

According to the FindaProperty.com House Prices and Affordability Index for the month, entry level prices have increased by 0.4 per cent after 12 months of stability.

That means the typical first-time buyer must now find £154,720 if they are to secure a place on the first rung.

However, there was some good news for those looking to get on the ladder, with the index revealing that the average deposit has fallen to £51,700 from £55,200.

Overall statistics show the rate of increase in the prices being paid by first-time buyers is ahead of the overall market trend, which stands at 0.1 per cent.

Problems such as rising prices may be behind the Telegraph's assertion this week that the average age of a first-time buyer is now 38.

How to buy a house from finding your first property, first time buyer mortgages, mortgage advice, shared equity, shared ownership, joint ownership, part buy part rent and HomeBuy. All a first time buyer could need as well as first time buyer news at FirstRungNow.com.

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