New buyers urged to invest

Published: February 26, 2008

People considering taking out first-time buyer mortgages could benefit from investing in the property market as soon as possible.

That is according to Smart New Homes, which said that current market conditions suit new buyers.

The advice is based on the fact that average UK property prices have fallen in recent months, with the firm anticipating a rise again in the next few months.

David Bexon, managing director of Smart New Homes, has forecast that property prices will begin to pick up again as early as March, meaning new buyers can land a bargain by purchasing now.

"Despite a slow start to the year, new home prices are likely to pick up over the coming months, as buyer confidence returns, fuelled in part by a series of further interest rate cuts which I would expect to see commencing as early as March," he commented.

"However, the current dip in prices across the new homes market makes now an excellent time to buy.

"With average prices in some regions such as the north and the north west currently lower than they were a year ago, buyers prepared to move quickly could secure an excellent deal before the spring," continued Mr Bexon.

A recent Halifax report revealed that house prices stabilised in January.