House price growth "in check" outside south-east

24-Apr-2007

First time buyers could be advised to look away from the south-east of England if they are looking for houses where price growth is a little more predictable, according to independent property research firm Hometrack.

With first time buyers often finding it difficult to take the first step on to the property ladder, looking to areas of more stable growth could indicate to first time buyers what they are able to truly afford.

"The rate of growth has certainly picked up over the last 18 months, but what is masking in the headlines is that a lot of this growth is being driven by house price growth in London and the south-east," said Hometrack's director of research, Richard Donnell.

Speaking on BBC2's Working Lunch programme, Mr Donnell concluded: "When you look away from the south-east of England, house price growth is far more in check."

Following news that inflation has pushed past the three per cent mark and that interest rates look set to rise in the near future in the opinion of a number of economists and experts, house prices could also continue to grow.

The Council of Mortgage Lenders has this week issued advice to mortgage lenders to help first time buyers take that all important first step on the property ladder.

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