UK Money News
21st November 2007
First-time buyers 'could benefit from slowdown'
While a slowdown is predicted in the housing market in the coming months, this opens up opportunities in terms of help with finance for first-time buyers.
So claims personal finance specialist Firstrung, which believes that with proper research such buyers can make gains in such a market.
With prices falling, the sector will soon become a buyers' market, meaning that opportunities for a bargain may well present themselves, the firm's chief executive officer has stated.
Paul Holmes remarks: "I see that market now turning in favour of first-time buyers. But we have to realise: even if we have an overnight correction … If house prices crash by 20 per cent, that still only takes us back to 2005 levels."
He added that the internet now offered enviable help with money, allowing buyers to conduct detailed research to establish their position in the market.
The finance news follows a house price forecast from Nationwide Building Society that predicted a fall in price inflation from 9.7 per cent to zero.
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