First-time buyers need to be ''realistic''
Fri 31st Aug, 14:12:10 BST
It is important for first-time buyers to remain realistic when looking for a home, a property expert has warned.
With figures from Halifax putting the average price of a home in the UK at £187,100 and properties in some areas, such as London and the south-east, costing far more, Helen Adams, managing director of FirstRungNow.com, said that first-time buyers needed to consider the reality of their situation.
"They might expect to be able to buy a really nice house in a really nice area but the fact is that you have to start at the bottom of the property ladder and not have the ideal location or their ideal property," she explained.
Recent research from Nationwide building society suggested that the housing market was beginning to slow down, something Ms Hunt suggested might be a good thing for those trying to get onto the property ladder.
"If property prices hold, it is a time when first time buyers will be keen to buy their first home, especially if it is likely that the house will go up in value again, as I think it will," she said.
With figures from Halifax putting the average price of a home in the UK at £187,100 and properties in some areas, such as London and the south-east, costing far more, Helen Adams, managing director of FirstRungNow.com, said that first-time buyers needed to consider the reality of their situation.
"They might expect to be able to buy a really nice house in a really nice area but the fact is that you have to start at the bottom of the property ladder and not have the ideal location or their ideal property," she explained.
Recent research from Nationwide building society suggested that the housing market was beginning to slow down, something Ms Hunt suggested might be a good thing for those trying to get onto the property ladder.
"If property prices hold, it is a time when first time buyers will be keen to buy their first home, especially if it is likely that the house will go up in value again, as I think it will," she said.
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