First-time buyers get respite in south-east
House prices fell by two per cent in the south-east, which will come as good news to first-time buyers not keen on relocating.
According to property website Rightmove, the average house price in the south-east fell by more than most other regions, second only to Yorkshire & Humberside, which saw a fall of 2.4 per cent.
The announcement follows research from Abbey Mortgages, which found that many first-time buyers are considering relocating to cheaper regions of the country to get onto the property ladder.
However, chief executive of mortgage broker Firstrung, Paul Homes, has warned first-time buyers that there is "no excuse for not doing your research".
He said: "It's very important now, probably more important than ever, for first-time buyers to start to use what we've termed 20/20 vision."
"If you're looking at a £200,000 property and really all you can afford is £175,000, that's what you should be offering," he added.
According to property website Rightmove, the average house price in the south-east fell by more than most other regions, second only to Yorkshire & Humberside, which saw a fall of 2.4 per cent.
The announcement follows research from Abbey Mortgages, which found that many first-time buyers are considering relocating to cheaper regions of the country to get onto the property ladder.
However, chief executive of mortgage broker Firstrung, Paul Homes, has warned first-time buyers that there is "no excuse for not doing your research".
He said: "It's very important now, probably more important than ever, for first-time buyers to start to use what we've termed 20/20 vision."
"If you're looking at a £200,000 property and really all you can afford is £175,000, that's what you should be offering," he added.
