The proportion of buyers who intend to purchase their first home over the next year has edged up to 24.3%, up 1.4% on last quarter and 1.5% year-on-year. 

However raising a deposit emerges as the single biggest concern for four in ten of the survey sample (39%) and around one in twelve is concerned about their ability to meet the monthly repayments of a mortgage. 

A third of first-time buyers now cite finding a suitable property to buy as their single biggest concern, a jump of 6% on last quarter. This shortage is driven in part by a ‘first-time seller’ shortage, with the number of terraces and flats fresh to market in Q4 of 2011 significantly down. 

First-time sellers, are suffering from a lack of equity, lack of confidence to stretch themselves financially and, in certain markets, difficulty in identifying a suitable property that they would like to move to. 

First-time buyers are integral to any property market as they start off chains that chains that allow other home-movers to trade-up. 

However, first-time buyer levels across the country remain historically low and way below the 40% level required for a more healthy and active property market.

Job worries and raising a deposit are the main hurdles to home buying

Over half of those questioned identified difficulties in raising a deposit (57%) and concerns about job security (55%) as the main obstacles to buying a property. Respondents also picked out household finances (33%) and the general availability of mortgages (30%) as major barriers to buying a property. 

The cost of renting is expected to continue to rise in 2012

Significantly more Britons believe that private rents will rise than fall over the next 12 months. 61% predict that the cost of renting in the private sector will increase over the next twelve months, compared to just 3% who think that rents will fall.

The research that covers 377  local authority districts, shows only Rochford in Essex and South Lakeland as the areas in the UK where house prices are currently higher than they were in 2007 and then only by 1% and 0.1% respectively. 

The research demonstrates that, since the peak of the housing market in 2007 and the subsequent period of declining prices, homes throughout the UK are still short of those peak historical values. 

The list of 20 areas where prices have performed best since 2007  is dominated by areas in southern England with only four of the top 20 outside that part of the country. Three of these areas South Lakeland, Derbyshire Dales and Ceredigion are popular holiday areas where there is significant housing demand from retirees and second homebuyers. 

Aberdeenshire is the other area outside the south in the top 20. The market here has been supported by the buoyancy of the local oil industry, which has fared very well in the past few years. 

The nine worst performers in house price terms recently are all in Northern Ireland.  The biggest decline has been in Craigavon where the average price has more than halved from £213,844 in 2007 to £103,383 in 2011. Average prices in Northern Ireland were the highest in the UK outside London and the South East in 2007. Northern Ireland now has the lowest average prices of any region in the country.

 All the areas in the bottom 20 are outside Southern England.

Regal Estates is a member of The Property Ombudsman, ARLA and complies with the Tenancy Deposit Protection Scheme. These memberships provide sellers, buyers, landlords and tenants with an assurance that they will receive the highest level of customer service in accordance with current regulations.

Rightmove has identified some early signs of widespread increases in consumer confidence in the housing UK market:

More mortgage deals
Compared to a year ago there is more competition from lenders to attract a greater volume of quality business. The number of available products for both borrowers with a 10% deposit and buy-to-let investors has risen by 35% and 25% respectively over the last 12 months1. There are some attractive five and ten year fixed-rate deals too.

While the £250,000 band stamp duty holiday for first-time buyers ends on 24th March, incentives for buyers of new build properties (which are not included in the Rightmove Housing Index) are set to be enhanced with the launch of NewBuy. This is an industry-led initiative supported by Government to increase the availability of higher loan-to-value mortgages for those buying a brand new me.

Good time to buy?
60% of the 32,000 questioned in a recent Rightmove survey stated they feel the current housing market favours buyers, a clear indication that there is buyer bidding- power in their area to get a lower offer accepted. The same survey also found that just over half (51%) viewed property as lower risk when compared to other investment options, providing further evidence of confidence in property as an asset class.

Adjusting to ‘the new norm’
Record January search activity on Rightmove indicates a pent-up desire to move that out-weighs the uncertain economic outlook. With sales transaction numbers having been depressed for the last four years, many households will have a pressing need to move, and some of those that are able to do so seem to be springing back to life.

Regal Estates is a member of The Property Ombudsman, Association of Registered Lettings Agents (Arla) and complies with the Tenancy Deposit Protection Scheme. These memberships provide sellers, buyers, landlords and tenants with an assurance that they will receive the highest level of customer service in accordance with current regulations .

Regal Estates is a member of The Property Ombudsman, Association of Registered Lettings Agents (Arla) and complies with the Tenancy Deposit Protection Scheme. These memberships provide sellers, buyers, landlords and tenants with an assurance that they will receive the highest level of customer service in accordance with current regulations.

Regal Estates is a member of The Property Ombudsman, Arla and complies with the Tenancy Deposit Protection Scheme, these memberships provide sellers, buyers, landlords and tenants with an assurance that they will receive the highest level of customer service in accordance with current regulations.