First-time buyers face further rise in house price

10/02/2010

First-time buyers are likely to find it even harder to get on to the property ladder, as the latest report shows that house prices rose once again in January.

A report from the Royal Independent Chartered Surveyors (RICS) has announced that the number of new buyers has fallen for the first time in 14 months.

The figures suggest that many first-time buyers are being priced out of the market as 32 per cent of surveyors reported that prices were continuing to rise.

However, RICS spokesperson Ian Perry said: "House prices are likely to rise in the short term but if more supply continues to come onto the market, it is possible that the market will run out of steam in the latter part of the year."

If Mr Perry's comments are accurate, a debt management scheme could help buyers to reduce their debt, putting them in a better position to buy when prices to begin to level off.

Posted by Jim Mead

Tags; Housing Debt and Bills,

• Share
• 
• 
• Store
• 
• Follow
•