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FTBs 'could benefit from market slowdown'
Published: 24/10/2007
As the once-booming UK housing market slows down, things could be getting easier for those looking to get on the property ladder for the first time, according to SmartNewHomes.com.
According to the outfit's recent monthly index, the average price of a new house in the UK is down by 0.9 per cent in comparison the preceding month.
This has resulted in more incentives being offered from developers keen to convince new buyers to invest.
David Bexon, managing director of SmartNewHomes.com said: "The recent price fall is not surprising considering the slowing market.
"With many financial year-ends for housebuilders taking place just before Christmas, the majority of developers will be acting quickly to sell units."
First-time buyers are the "life blood" of the housing market and will be important if demand is to continue, added Mr Bexon.
Recently, the former chairman of the Federal Reserve, Alan Greenspan, predicted a slump in the UK housing market.
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