First-timers are still entering market

A recent survey found that first-time buyers are continuing to enter the UK property market.

When asked whether there was an increase in first time buyers in 2011 compared to the end of 2010, over a third of respondents said they had seen a rise.

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.

Sixty-two per cent of respondents cited a lack of mortgage deposit as the biggest influence in preventing more first-time buyers from entering the market while a further third reported it was a lack of mortgage availability prevented some first-time buyers from home purchase.

Ian Appleyard, director of Blundells, Home Sale Network in North Derbyshire said: “Our survey suggests that although the mortgage market continues to be a challenge to first-time buyers, many are finding new ways to be able to afford their first home, whether it’s buying a property with a friend or a family member.”