Home buyers have been 'taking advantage of market conditions'

Posted: 16 Feb 2010 11:18:57 GMT

Would-be home buyers in the UK have been taking advantage of the current property market conditions, it has been suggested.

Stuart Law, chief executive of property advisory firm Assetz, says that in particular, first-time buyers have used the bad weather that was experience nationwide in January to get a better deal on a home.

He suggests that due to factors such as this, the market is expected to grow steadily by five per cent over the coming year.

Mr Law's comments come in response to recent statistics from the National Association of Estate Agents, which reveal that some 23 per cent of those who purchased a property in January fell into the first-time buyer category.

He adds that one of the main reasons why he feels there has been a growth in this group of purchasers stepping onto the property ladder is because parents are continuing to assist their children in buying a home.

A report from unbiased.co.uk recently found that 40 per cent of mortgage enquiries over the course of 2009 were made by first-time buyers.

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