One of the hot topics in the property sector of late has been the fortunes of first time buyers, with many commentators believing that this group is key to getting the industry going again.
Indeed, as the Royal Institution of Chartered Surveyors (Rics) announced its reaction to Bank of England
mortgage lending figures, it emphasised the fact that "obstacles" still remain for first time buyers.
The statistics showed that the number of mortgages approved was up and Rics chief economist Simon Rubinsohn suggested that his organisation's own data, showing an increase in enquiries from new buyers, is likely to mean activity continues to grow in coming months.
Meanwhile, the Building Societies Association has suggested that those looking for first time buyer mortgages could find that now is an ideal time to be in the market, as long as they have a good deposit.
Paul Broadhead, head of mortgage policy at the body, explained that banks are beginning to target their products at this group.
He noted that affordability has been one of the main problems for first-time buyers in the past, but prices have now dropped considerably. However, with 100 percent mortgages seemingly a thing of the past, Mr Broadhead added that large sums need to be prepared in advance.
"There is lots of interest there, but the very high loan-to-value mortgages which pretty much serviced the majority of the first time buyer market [in the past] still are not there and are probably still a way off," he said.
Nonetheless, the expert was keen to point out that low mortgage rates and house values mean that anyone with the cash will find that now is a "great time" to get on the property ladder.
Similarly, the Little House Company has suggested that first time buyers may benefit from the fact that many people are keen to move quickly. Jane Marr, director at the online advertising service for sellers, explained that discounts are available - with recent reductions of ten to 15 percent compared to last year's figures.
"First time buyers are in a very strong negotiating position as it's not only buyers that our private sellers want, but ones in good positions to move quickly," she remarked.
This could provide some comfort to the 65 per cent of non-homeowners who recently told PropertyLive.co.uk that they do not expect to ever purchase a property, as Ms Marr explained that "green shoots" are gradually emerging in the market.
So those who are in a position to compare mortgages - and even those who are not yet ready to buy - may have cause for more optimism than they previously thought.
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