Frustrated first-time buyers ‘to see new hope in 2008’

Published on: 03/01/2008

The moderating of prices in the housing sector will offer first-time buyers in locations such as London a much better chance of getting on the property ladder, it has been forecast.

Such a boost to the hopes of this group has been predicted by the Daily Telegraph, which has suggested that the year ahead has a much greater prospect than any time in recent years of seeing a correction which will improve affordability.

The paper states that for a first-time buyer in London the key is to keep searching and pay attention to developments, advising that “the more you keep your nose to the ground, the better the decision you are likely to make”.

It further recommended that such buyers need not rush their decisions or enter into joint-buying arrangements, while adding that Hackney should be considered as the area predicted to be the best price growth hotspot in England in 2008 by Halifax.

Last week Nationwide Building Society said “pent-up” first-time buyer demand would be released into the market during the course of 2008 due to factors such as interest rate cuts


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