Released on = August 23, 2007, 7:04 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = The number of first-time buyers (FTBs) entering the UK
market in June has slumped.

Press Release Body = New figures from the Council of Mortgage Lenders (CML) show
that just 35,600 FTBs purchased a property in June 2007.

This is a huge drop from the 39,800 recorded in June 2006 and is the lowest figure
recorded for June since 2004.

Rising interest rates are thought to be largely to blame as affordability continues
to fall.

The base rate currently sits at 5.75 per cent and this is putting FTBs off from
entering a volatile market.

According to the CML, the average FTB now needs to spend 3.37 times their income in
order to get onto the property ladder, up from 3.36 times in May and 3.22 times in
June 2006.

Julian King of \'sell house fast\' market leaders National Homebuyers says: \"This is
all bad news for homeowners. Fewer buyers entering the market means it is even more
difficult to make a quick property sale.

\"National Homebuyers receives thousands of calls from customers saying \'buy my house
quickly\' because putting it on the open market hasn\'t seen the necessary volume of
viewers, let alone offers.

\"With fewer buyers, it will push property prices down, leading to the predicted crash.\"

National Homebuyers is the UK\'s leading fast purchase property firm, guaranteeing a
quick sale for vendors who need to sell their house quick.

Recent figures from the Royal Institution of Chartered Surveyors show that FTB
enquiries plummeted in July to the lowest levels seen 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