FTB confidence grows

Posted: 19 Sep 2007 11:01:06 GMT

It appears that first-time buyers (FTBs) are regaining their confidence in the housing market.

It appears that first-time buyers (FTBs) are regaining their confidence in the housing market.

That is according to a study by Spicer Haart Financial Services, which shows that more FTBs are entering the market.

It follows the Bank of England's decision to hold the base rate of interest in September for the second consecutive month.

House builder Miller Homes has commented on the survey which reveals that the percentage of FTBs in the market increased to 40 per cent in August, signalling a rise of three per cent, the largest growth seen in 2007.

"It's a good sign that confidence with first-time buyers is on the up as they are a vital driving force in the housing market," commented Carolyn Rushbrook, sales and managing director of Miller Homes Yorkshire.

FTB confidence appeared to plummet in recent months after the Bank increased rates five times since August 2006.

However, with inflation falling to 1.8 per cent in August, below the two per cent target, rates have been frozen and some analysts predict that they may soon fall.

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