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Top tips for first-time buyers

Friday, 24 November 2006 12:00 AM

Most reports on the situation of first-time buyers highlight the doom and gloom of being unable to afford get a foot on the ladder.

However, one estate agent is offering first-time buyers advice on how to find a bargain, though it warns that flexibility is the key.

Haart is advising first-time buyers to sacrifice more on location to bag a bargain and pay below the £125,000 stamp duty threshold.

The key factor to look for is future growth. Signs of regeneration, government designated growth points, expanding universities, improved road links and fast rail services to the nearest town or city should all be considered when buying.

Haart says Balham and Stratford in London are prime examples of unpopular and cheap places to buy four years ago that are now desirable, experiencing price increases of 33.5 per cent and 44.2 per cent respectively.

Other examples can be found in Leeds and Bristol, which have also had big house price rises, with buyers spotting future growth by finding areas on the edge of more established hotspots, benefiting from the ripple effect.

The estate agent currently sees areas such as Swindon and Ipswich as top first-time buys with many one or two-bedroom properties on the market in Swindon below the stamp duty level. Additionally, buyers will benefit from above average investment returns from the regeneration schemes.

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