New buyers ''looking to purchase property''

First time buyers are re-entering the market, the National Association of Estate Agents (NAEA) has said.

Figures from the organisation for November show that 10.4 per cent of properties sold across the month went to those who had not owned a home before.

In August, this total was 8.3 per cent.

House prices have been falling since last year, when the first effects of the credit crunch became apparent.

Despite the overall value of property becoming more affordable, many buyers have found themselves shut out of the market thanks to the more stringent credit criteria that have been put in place by lenders in the crisis.

Chris Brown, president of the NAEA, said: "After what has been the most difficult year for the market in a very long time, these figures are definitely not as bad as expected.

"In fact, while it may seem a meagre offering, the glimmer of positive news that some of these figures reveal can give estate agents across the country some hope for a more prosperous 2009."