First-time buyers: it's time for action

03-Jan-2008

First-time buyers have been advised that now might be the best time to take action and climb onto the first rung of the property market ladder.

According to Miller Homes, new homebuyers are well poised to take advantage of the fact that fewer people are currently purchasing properties.

What's more, house prices have started to tail off in recent months, meaning more young people with aspirations of owning their own home are realistically able to consider making an acquisition - especially as they won't need such a big deposit.

"People may think it is currently not a good time to buy, but when prices are at their lowest and good incentives are offered it is the perfect time to move home," commented Carolyn Walsh from Miller Homes.

"Unless you are downsizing, you never really benefit from the equity in your home, as higher prices apply to the house you are buying as well as selling.

"It is so easy to forget that the property market has proven to be the best investment in recent years. House prices have risen consistently," she added.

It was recently revealed by Nationwide that house prices had fallen by 0.5 per cent in the month of December.

Buyers 'can capitalise' in 2008
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Prices fall but rates 'may not help buyers'

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