Enquiries from first-time buyers "increasing"

Date:Tuesday 13th October 2009
Author: Susannah Kavka

The Royal Institution of Chartered Surveyors (Rics) has reported growth in the number of first-time buyers making enquiries about taking on a mortgage.

Spokesperson for the organisation Ian Perry pointed out they may be disappointed to hear that house prices are likely to go up in the near future.

He claimed this will happen because there is an imbalance between the number of houses being offered for sale and how many buyers there are hoping to purchase a property.

Mr Perry commented that demand is currently outweighing supply, however this is not stopping first-time buyers from enquiring about taking on a mortgage.

"Despite the problems first-time buyers are continuing to encounter in securing finance, the level of enquiries from potential purchasers is increasing," he explained.

A recent report by Rics suggested that the south of England is leading the increase in house prices in the UK.

Last week, the organisation reported that prices in the arts and antiques sector are rising.