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First-time buyer prices on the up
Property prices for first-time buyer homes have started to rise again this month after four months of falls.
The average first-time buyer property is available for £154,720, a rise of 0.4 per cent from £154,036 in February, according to FindaProperty.com's latest research.
However, overall, prices have remained at the same level they were a year ago.
First-time buyers are still struggling to pull together funds for deposits. In a survey by the property website, 49 per cent of respondents said getting a deposit together was still their largest barrier to homeownership.
While more generous lending criteria has seen the average deposit dip, if house prices increase making the step onto the housing ladder will continue to be a challenge.
In February, the Halifax house price index indicated that UK property value had dropped 1.5 per cent. With prices rising, however minimal, finance still remains the biggest issue for first-time buyers as the housing market continues to remain unpredictable.