House prices 'not main concern of first-time buyers'

02-Jul-2009

It is the issue of mortgage affordability and not house prices that is the main concern of first-time buyers, it has been suggested.

According to Catherine Hearnden, director of financial adviser group MyMortageDirect, recent increases in property prices reported by Nationwide Building Society are of less interest to people looking to buy their first property than the processes to find a mortgage deposit.

Commenting more widely on property costs, the expert suggested that the value of housing will rise "gradually" in the coming months.

"Even though we are seeing steady rises, they are not that steady, it has only been a couple of months and they are not really big," she explained.

Nationwide's house price research, released earlier this week, showed that the value of the average UK home went up 0.9 per cent in June.

It was the third time in four months, the building society had announced a rise in value of bricks and mortar and the average property price was said to be worth £156,442.

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.

Nationwide reports house price growth
Property expert assesses mortgage market
Research is 'vital' for first-time buyers

2012: 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