Housing boost for people with first time buyer mortgages

Published: April 23, 2008

The number of properties available on the market rose in March, giving people looking to take out first-time buyer mortgages more choice.

Figures from the National Association of Estate Agents (NAEA) show that there were more properties up for sale than in the previous month.

In addition, the number of buyers registered in the month also rose, suggesting that market sentiment is picking up.

It is all good news for people looking to take out first-time buyer mortgages and the NAEA is keen to point out that the market fundamentals remain strong.

"There is a constant need to remind people that the underlying factors that hold-up the property market - low unemployment, historically low interest rates and a pent-up demand for houses - still exist," said Stewart Lilly, president of the organisation.

"In fact, a number of NAEA agents from across the United Kingdom are still reporting stable property markets with many of their branches making steady sales," he added.