29
Feb
FTBs 'can benefit from a market correction'
First-time buyers (FTBs) will be able to benefit if the housing
market falls into a period of correction, according to one
expert.
While FTBs are often encouraged not to splash out on a property,
the next decade could actually be the best time for them to do so,
FirstRung chief executive Paul Holmes said.
He went on to state that new buyers "excel and thrive" in market
dips as they are more likely to be able to afford to do so.
"The majority of FTBs want to buy somewhere to call home that they
can afford and they take a long-term view," Mr Holmes
commented.
"Most FTBs ... do not buy a property to make money."
Malcolm Harrison, spokesman for the Association of Residential
Letting Agent, recently said that claims the buy-to-let market
squeezes out FTBs was "a load of rubbish".
