First time buyers boost housing market

The report found that that despite continued speculation over greater house price inflation and young buyers have not been put off, which goes against current theories that first time buyers have been priced out of the housing market.

Paul Cooper, head of mortgages at Alliance & Leicester, said: "The Spring months usually signal the start of the homebuying season for first time buyers, our latest findings suggest we could be set for a record year in mortgage activity for these buyers. These findings also suggest that house price rises are not stopping first time buyers from getting on to the property ladder."