Huge demand for property from first-time buyers

Following the release of the Council of Mortgage Lending's figures on mortgage lending in 2008, Peter Bolton King, Chief Executive of NAEA (NFOPP) said: "NAEA figures show that there is a huge demand for property from first time buyers, who are increasingly visiting estate agents, registering their interest and searching for property. These figures demonstrate that they are being frustrated at the final hurdle because lenders are not making mortgages available.

"First time buyers are crucial, not only to the housing market, but the entire economy. More must be done to help them."