First time buyers urged to get onto the ladder

03-Aug-2005

The National Association of Estate Agents (NAEA) has revealed that this summer represents a good opportunity to get onto the property ladder.

Click here for our first time buyers guide to buying a property

Its new report shows that the property market appears to have settled somewhat, with house prices remaining largely static last month after almost a year of slowing inflation.

That dip in prices has brought a glut of properties onto estate agents' books, meaning that many aspiring homeowners will have plenty of choice when looking for their first property.

It also means that aspiring first time buyers will be able to offer less to sellers than they would have a year ago, so that they are more likely to be able to afford the property they want, as well as making it easier for aspiring homeowners to find a deposit and mortgage.

To find out more about creative mortgages designed specifically for first time buyers click here

As Chris Hall, president of the NAEA explains: "With the number of homes on the market increasing steadily over the past 18 months, and the number of people looking to purchase property decreasing, buyers can take advantage of greater choice in the marketplace."

He added that current housing market conditions are "in favour of buyers", but insisted that more help is needed from the government along the line of its new joint ownership scheme.

See what’s in our unique, comprehensive and detailed joint ownership guide

Click here to see what properties are on the market in your area – whether you buy alone or with others

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