First-time buyers may have noticed a slight recovery in the market, as figures just released show a three per cent rise in home values since the start of the year.
The Nationwide House Price Index shows the average UK property value rising 0.1 per cent last month, while the annual rate of home price inflation dropped from 9.8 per cent to 8.7 per cent.
Chief economist for the building society Martin Gahbauer said the figures showed “broad stability” in the market and noted the abolition of Home Information Packs was expected to increase the number of properties listed for sale.
The Royal Institute for Chartered Surveyors suggested the flatter price trend was the first indicator of an influx of sellers on the market and expects estate agent books to swell by around 15 per cent in the coming months.
Joint ownership could be one option for individuals keen to join the market ahead of further price rises, but struggling to raise a deposit.