First-time buyers hit 18 month high

Posted: 17 Nov 2006 10:35:13 GMT

First-time buyers returned to the market in high numbers during October, reaching their highest proportion of the market in 18 months, new research has claimed

First-time buyers returned to the market in high numbers during October, reaching their highest proportion of the market in 18 months, new research has claimed.

First-time buyers made up 16.4 per cent of the market in October, said the National Association of Estate Agents (NAEA), up from 11.1 per cent in September.

The NAEA said that the proportion may have as much to do with falling numbers of current homeowners selling up however, and said that it was unlikely to be sustained.

"I am delighted to see some first-time buyers coming back to the market, but I am also concerned that the rise in interest rates and rumoured further rises will disadvantage people trying to climb onto the property ladder," said NAEA president Charles Smailes.

"The overall picture is that of a healthy active market, however regional difference applies, with some areas beginning to look quite flat, whilst the south-east looks extremely strong."

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