Property sales figures for first-time buyer are the lowest for five years, said the National Association of Estate Agents in a revised report today.

First-time buyers’ share of the housing market fell to an average of 12.2% per month in 2005, the lowest figure to be recorded by the NAEA housing market survey since it began.

The first-time buyer percentage share figure has been gradually falling since 2000, when firs-time buyers accounted for, on average, 29% of total sales each month. In 2002 the figure dropped to under a quarter of all sales. Last year saw the first time buyer share decreasing even further, to account for just over one tenth of the market.

Survey records lowest January figures yet

While first time buyers improved their share of the housing market from 7.04% in December to 9.06% in January, these levels are still the lowest recorded for a January since the survey began. In January 2005 the percentage share for first timers was 11.7%. In January 2000 this figure was 33.4%.

NAEA chief executive Peter Bolton King commented: "We urge the government to consider these figures when looking at policies which could help first time buyers to get on the property ladder."

"Close attention needs to be paid to the affordability and availability of first time buyer properties if this downward trend is to be reversed. Eradicating stamp duty for first timers is one way the government could make a positive difference. We will continue to campaign on behalf of first time buyers over the coming year."