In a recent survey of over 200 first-time buyers, only 13% of respondents said they were put off buying a home due to the current financial climate and just 8% believed they would have to pay more than £200,000 for their first home.
Results also suggest that the prospect of buying alone is not preventing buyers from looking to make their first home purchase. The survey recorded that 46% of looking for a home were single, compared to 33% looking to buy with a partner.
The majority of respondents cited high prices as the main barrier to them getting on the property ladder (66%), with 75% not expecting to own a home until they were over 30.
David Bexon, managing director of SmartNewHomes.com said: “First time buyers are still looking to buy at the right price, and have not been completely deterred by current conditions in the market.
“However, what we need to see now is lenders relaxing their lending criteria across the board to assist buyers back into the market.”
