First-time buyers are continuing to enter the property market despite the financial pressure purchasing a home can put them under, it has been claimed.

Figures released by Spicerhaart Financial Service revealed that although the number of first-time buyers looking for a property in October fell, over the last six months they made up 38 per cent of all those considering purchasing a house.

Steve Cox, operations director of the firm, said: "The proportion of first time buyers is significant and still strong. Despite some affordability constraints most still aspire to own a property and are entering the market encouraged by the held interest rates."

He added that last month''s fall in first-time buyers "is attributable to a slight seasonal lull rather than buyers abandoning the property market altogether".

"The figures are also encouraging as these buyers are a vital driving force in the housing market and essential for a healthy mortgage industry," he argued.

Last month, the Council of Mortgage Lenders said that although lending is "buoyant", it was becoming harder for first-time buyers to afford the cost of getting on the property ladder, with the typical person now having to borrow 3.38 times their income.