Could first-time buyers with 'conflicting views' consider flats to rent instead?
More people could be looking at flats to rent in London as the number of first-time buyers entering the market is starting to decline, it has been suggested.
Timothy Lambert, head of consulting at Ducalian, said there are "a lot of conflicting views at present".
He believes many people think they will miss a good opportunity if they do not purchase a property now.
However, the number of Brits actually buying a house is "starting to drop off", he continued.
These comments came after the Royal Institution of Chartered Surveyors (RICS) and the National Association of Estate Agents (NAEA) released apparently contradicting reports.
RICS revealed a decline in demand for property in July 2010, with figures falling for the second month in a row.
In contrast, the NAEA reported that the average agent had 292 registered house hunters last month, a rise from June's figure of 279.
Mr Lambert added that many banks are not keen on lending at present because they fear a double dip recession.
Published 10th August, 2010
© 2010 Estates IT Limited
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The number of first-time buyers purchasing a property in the UK is starting to decline, according to one expert.