House prices across the UK rose eight per cent to an average of £205,150 in the past year - and the position of first time buyers has improved significantly.
That is the view from estate agency Haart, which says the average first time buyer mortgage rose 12 per cent to £133,872 as banks competed with each other to offer them the best deal.
At the same time Haart - which now has some 200 branches nationwide - claims the first time buyer's typical deposit dropped five per cent in 2014.
Unsurprisingly - despite a late-year dip - London house prices had the single largest rise of an average of 11 per cent.
Affordability is beginning to make a comeback in 2015 as prices start to stabilise, mortgage deals proliferate and higher loan-to-values become more commonplace says Paul Smith, the network's chief executive.
We are highly unlikely to see a repeat of last spring's meteoric annual price growth in London that broke the 20 per cent mark and broke the 10 per cent barrier nationally. Following the stamp duty reforms, the purchaser of a typical first-time buyer home will now save £828 which could help to cover some of the moving costs says Smith.
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Comments
I'll give you a clue Rob Davies. Don't believe any of the bullshite that comes from the mouth of 'straight talking Smith'!
Hmm, that's not been my experience. I thought it was harder than ever for first-time buyers to get onto the property ladder, now Haart says differently. Who to believe