Market conditions 'favour first time buyers'
First time buyers can pick up a bargain as a result of changing
market conditions, it has been claimed.
According to Firstrung, the transformation of the UK's property
landscape into buyers' market has given first time buyers a
However, in order to make the most of the situation, they must be
prepared to "push home" their advantage by ensuring they are well
informed and conducting research online, Paul Holmes of Firstrung
He said: "I see that market now turning in favour of first time
"People should be offering what they can afford. If you're looking
at a £200,000 property and really all you can afford is
£175,000, that's what you should be offering. It's a
marketplace: people can refuse you. Fine, move on to the next
"You can find through searches on the land registry or net house
prices what similar houses have gone for in similar areas, what the
outstanding mortgage is on the property, how long the owners have
owned it, how much they paid, where they're thinking of going
to…there is no excuse for not doing your research."