Survey shows evidence of 'buyer eagerness'

10-Feb-2009

More Britons could be enquiring about buying their first property following recent interest rate cuts from the Bank of England and falls in UK house prices, a study has indicated.

Figures published by the Royal Institution of Chartered Surveyors (Rics) showed that 16 per cent more of its members reported a higher level of buyer enquiries in January - some of whom could be first-time buyers (FTBs).

The findings come after Simon Zutshi, founder of the Property Investors Network, said it is possible for FTBs to secure mortgage finance in the current economic climate, despite stricter lending criteria being adopted by some providers.

Furthermore, those who can access financial solutions to get on to the property ladder would be in a position to take advantage of low house prices.

Nationwide last month reported a 16.6 per cent drop in the value of a typical UK property between January 2008 and the same month this year.

Jeremy Leaf, spokesperson for Rics, said buyer interest is yet to translate into sales, but added: "The latest survey provides further evidence of the eagerness of buyers to try and pick up bargains."

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.

'Good times' for first property buyersNAEA: FTBs relying on parental helpSave for a home rather than gamble, expert says

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