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News that Alex Salmond, the leader of the ruling SNP in Scotland, has been somewhat liberal with his recent comments about housing budgets and assistance has caught the attention of opposition...
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Thursday 30th August 2007
The slowing property market may offer the perfect opportunity for first-time buyers to invest, according to First Rung Now who offer advice to first time buyers.
Nationwide have reported that there are now "clearer signs" that demand in the property market has slowed, and its most recent house price survey showed that annual house price inflation had dropped to 9.6 per cent this month, down from 9.9 per cent in July, its lowest level since March.
Helen Adams, managing director of the company, said that if property prices hold, it could be a good time for buyers entering the market.
She warned however, that first-time buyers must be realistic about in their expectations of what they can afford and how buying a house will affect their lives.
Despite the slowing of the market, the typical price of a house in the UK is still a hefty £183,898, £16,177 more than last year.
Ms Adams said: "Their expectations are very high.
"They might expect to be able to buy a really nice house in a really nice area but the fact is that you have to start at the bottom of the property ladder and not have the ideal location or their ideal property."
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