Released on = August 31, 2007, 6:51 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = First-time buyers (FTBs) are less able to enter the property
market than ever before.

Press Release Body = That is according to the National House Building Council\'s
(NHBC\'s) First Time Buyers\' Ability to Buy Index.

It shows that FTBs\' ability to buy hit the lowest level it has ever reached since
the index began 28 years ago.

\"The index reduced dramatically in the second quarter to below the previously lowest
level in 1989 and is reflective of the increasing difficulties being experienced by
those wishing to buy their first home,\" commented Imtiaz Farookhi, NHBC chief
executive.

The findings follow two pieces of research which support the theory that FTBs are
finding it increasingly difficult to get onto the property ladder.

The Council of Mortgage Lenders has reported that the number of FTBs taking out a
mortgage plummeted in June, while those who did buy had to borrow an average of 3.37
times their income.

Fast sale property expert Julian King adds: \"Traditionally, FTBs accounted for
almost half of all property transactions, this has now slimmed to 25-30 per cent.

\"With a lack of new buyers on the market and a growing concern for people to upsize
their property at a time when prices are largely over inflated, this means the
vendor is finding that selling their property is extremely difficult.

\"As property prices reduce across the country to satisfy sales, we fear this could
trigger the much discussed collapse of the market in the coming year,\" says Mr King.

Julian King is a director of National Homebuyers, the UK\'s leading fast property
purchase firm, guaranteeing to make an offer on any property surveyed, assisting
homeowners who require a quick sale for whatever reason.

In addition, the Royal Institution of Chartered Surveyors revealed that new-buyer
enquiries in July slumped at their fastest rate since August 2004.

Web Site = http://www.nationalhomebuyers.co.uk

Contact Details = Sterling House
20 Victoria Way
Burgess Hill
West Sussex
RH15 9NF
0870 979 8118
Fax: 01444 257333
info@nationalhomebuyers.co.uk