A decline in First Time Buyers but UK property market remains a good investment

26th July 2010

Following the Council of Mortgage Lenders’ report that the percentage of first time buyers entering the property market has reached a three year low, a recent Home Sale Network survey has found a similar decline.

When asked whether survey respondents have seen a decreased number of first time buyers in Q2 2010 compared to Q1 2010, over two thirds (67%) said that they had; with 81% seeing up to a 20% decrease.

A specially selected, national network of independent estate agents across England, Scotland and Wales, Home Sale Network is able to provide a good indication of the number of first time buyers around the country that are entering the UK property market.

When asked what Network members thought the biggest influence was in preventing first time buyers from entering the market, over half (60%) cited job security and a further 36% reported there was a lack of mortgage availability.
  
Michael Arthan from Barbers the member of Home Sale Network in Shrosphire said, “First time buyers are having to find new ways to be able to afford their first home with many opting to buy a property with a friend or family member. The UK property market is still a good investment and so once you’ve got the necessary deposit, now is a good time to get on the property ladder.

“If you are a first time buyer then contact Barbers today. As a Home Sale Network member, we are Shropshire’s Local Expert and can help you find the right property.”

For further information contact any of Barbers offices:

Market Drayton- 01630 653641
Newport- 01952 820239
Shrewsbury- 01743 276200
Wellington/Telford- 01952 221200
Whitchurch- 01948 667272