Mortgage Advice for First Time Buyers, First Time Buyer Mortgages and First Mortgage Advice

House price rise 'will contribute to first rung caution'

08-Oct-2009

Recently reported increases in house prices may put first-time buyers off getting on the first rung of the property ladder.

This is according to Helen Adams, marketing director of Firstrungnow.com, a website dedicated to providing mortgage advice to those buying their first property.

Ms Adams responded to the Halifax house price index published this week, which indicated that values rose by 1.6 per cent throughout September.

While this has positive implications for the market, she said first-time buyers are being "sensible" at the moment.

She commented: "They are watching the market to see what [will] happen with house prices.

"It will just add to their cautiousness for the time being. It will put some off."

Ms Adams also expressed some doubts as to whether the increases will continue, stating: "I'm not convinced it is going to be sustained."

The recent climb in house prices represents the third consecutive monthly rise.

Furthermore, the average value at the end of September was 1.7 per cent higher than the same period in 2008.

FirstRungNow.com - how to buy a house, from finding your first flat or first house, first time buyer mortgages, shared ownership, buying with friends, gifted deposit, part buy part rent - all a first time buyer could possibly need.

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