7
May
House price drop 'an opportunity for FTBs'
The drop in house prices over the last 12 months - as well as the
predicted continuation of falling values - has presented first-time
buyers (FTB) with the opportunity to get on the property
ladder.
At least that is the view of Katy John, spokesperson for the
national campaign for affordable housing PricedOut.org.uk, who
claimed a number of FTBs are "waiting it out" to see the direction
the market takes over the coming months.
She added that those searching for property are "wary" about buying
bricks and mortar in the current climate.
Ms John said: "For [FTBs] the falls in property prices do not spell
doom, but [they] are an opportunity to think realistically about
owning their own home."
More property transactions will take place in the UK once prices
return to affordable levels, the campaigner explained.
The average price of a property in April was £151,861,
according to Nationwide Building Society.
