The future is "bright" for first-time buyers

One expert has claimed that things are looking up for first-time buyers.

The current crisis in the property market is a boon for anyone looking to get a foot on the property ladder, according to Paul Holmes, chief executive officer of first-time buyer advisors Firstrung.

Anyone can embark on a self build project and with the price of houses and land falling they will become "more affordable" for first timers.

However, Mr Holmes suggests buyers should "look at the security of their job" before applying for a self buildmortgage or other loan product.

Mr Holmes offers more good news for prospective new entrants to the property market by claming that while they are saving up for their deposits, house prices will "continue to fall and come more in line with affordability and their expectations".

Every major region in England and Wales witnessed a fall in average property values over the last year, according to the Land Registry House Pricing Index.