More apprehension from first-time buyers

While buyers and sellers go about business as normal first-time buyers are still holding back.

Statistics released from the National Association of Estate Agents show the market share for first-time buyers dropped from 11.7% in February to 8.3% in March.

Blame for the house-hunting slump has been pinned on the credit crunch, tighter lending criteria, and apprehension.

Stewart Lilly, NAEA president, says: “There are indications that first time buyers have dropped their market share once again showing a ‘wait and see’ attitude has been adopted.”

He says: “Over the next few months it is imperitative that the shackles are released on the mortgage market so consumer confidence can be rebuilt, allowing the market to stabilise.”