Research is 'vital' for first-time buyers

25-Jun-2009

Prior to committing to any property purchase, first-time buyers and other home seekers must ensure they conduct thorough research.

That is the view of Timothy Lambert, who is head of consulting at independent property investment consultancy Ducalian.

He claimed that assessing the surrounding area of a potential new home can help buyers avoid problems - such as falling into negative equity - later down the line.

Mr Lambert advised: "Use websites to see how much properties were bought and sold for, average values in particular roads and boroughs for example."

Earlier this month, the National Association of Estate Agents published its housing survey for May, which showed a number of positive signs for the property industry.

The average UK agent sold ten properties during the month, which was a 30 per cent increase year-on-year. Meanwhile, more potential buyers were registered with branches than in April.

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