Rise in first-time buyers 'positive'

The number of first-time buyers entering the market has started to rise, according to the National Association of Estate Agents (NAEA).

A new study by the group also shows the average number of sales per agent a month has experienced its first monthly increase since January – increasing from five sales in August to six in September.

The NEAE claims the return of first-time buyers to the market is in part due to the government''s decision to increase the threshold for stamp duty to £175,000.

However, Chris Brown, president of the NAEA, said: "It is evident from the results that despite some positive indicators, consumers are still cautious with many continuing to adopt a wait and see attitude and are only moving if it is necessary."

He added that the government needs to take drastic action if it is to restore confidence in the housing market.

According to the British Bankers'' Association, mortgage lending in Britain also increased in September.

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