FTBs 'can capitalise on a buyer's market'

06-Nov-2008

The property market's present condition could suit first-time buyers (FTBs) who have sufficient funds to get onto the property ladder, an expert has suggested.

Helen Adams, managing director at FirstRungNow.com, suggested that some Britons will need to sell-up their homes at the moment and FTBs might be able to take advantage of their urgency by being able to negotiate a better deal.

"It is probably a buyer's market at the moment for those people that have the funds and are prepared to take that small risk of buying now. They can negotiate hard," she said.

FTBs are advised by Ms Adams to make sure they research the market sufficiently and consider a range of options before committing to a purchase.

Her comments come as house price figures released by the Halifax today showed that the market fell by 2.2 per cent in October.

Amounting to a 13.7 per drop in house prices over the last month, the study said the average UK home now costs £168,176, almost £30,000 less than a year ago.

FirstRungNow.com - how to buy a house, from finding your first flat or first house, first time buyer mortgages, shared ownership, buying with friends, gifted deposit, part buy part rent - all a first time buyer could possibly need.

FTBs 'positive about market future'House prices continue to fallFalling house prices 'a godsend for FTBs'

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