First-time buyers have 5% less choice

15-Jul-2010

Published by Sam Franklin

First-time buyers had less choice in June, as the number of properties for sale fell by around five per cent.

The National Association of Estate Agents (NAEA) today (July 15th) reported the average number of homes for sale per branch dropped from 62 to 59, as expectation of rising prices may mean sellers hold off listing their residence.

Just over one-fifth of sales in May were to first-time buyers, as products such as shared equity mortgages may make it easier for individuals to secure finance if they have not previously owned a property.

Recent proposals from the Financial Services Authority aim to ensure all those granted a home purchase loan can afford the repayments.

Easing up of the lending market might explain the increase in people seeking to buy, as NAEA data shows an average of 279 registrations of purchasers per branch in June, up from 265 the previous month.

FirstRungNow is the top spot for first time buyers where you can find out all about first time buyers options, first time buyer mortgages and get first mortgage advice.

90% loan-to-value mortgages 'hard to get approved'
5-year deals bring more choice to first mortgage market
Shared ownership could increase chances of mortgage approval

2012: May | Apr | Mar | Feb | Jan

2011: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2010: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2009: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2008: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2007: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2006: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2005: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar