15 Nov

First-time buyers purchase more houses for sale in October

First-time buyers purchase more houses for sale in October

Estate agents have experienced an increase in the number of first-time buyers purchasing houses for sale in the UK, it has been revealed.

The National Association of Estate Agents (NAEA) has released its market report for October 2010, which showed that the percentage of transactions to first-time buyers had increased from 20 per cent to 23 per cent over the month.

This could be the result of falling house prices, as the NAEA reported that activity levels have otherwise drooped, with a number of sellers "unwilling to accept falling house prices".

As a result, the amount of properties registered with an estate agent last month dropped to 67 per branch from 72 in September.

President of the group Michael Jones said: "Many sellers believe that the lack of available housing stock means they can make a sale without lowering the price of their home. However, house-hunters are also confident of a good deal."

An article on MSN Money recently advised first-time buyers to build a strong case when making an offer to purchase houses for sale, stating that they should prove they are a "credible bidder". ADNFCR-1222-ID-800236272-ADNFCR

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