Around 86% of first-time buyers are still keen to get on the property ladder, according to Dandara.

This is despite the current economic climate that has resulted in more lenders putting restrictions on those applying for mortgages.

According to recent research carried out by the UK developer Dandara , property continues to be seen as a safe long term investment and that given the choice, first time buyers would still prefer to be paying a mortgage instead of pouring their money into rent.

The study was carried out to determine the thoughts of first time buyers in light of the current property climate. With 100% mortgages being squeezed out of the market and banks tightening their belts, first time buyers are going to have to find new ways of getting onto the property ladder.

Hugh McGuinness, sales director of Dandara commented: “Times are a little bit tougher for first time buyers but it is encouraging to see that new homeowners are still keen to get on the property ladder. With all the opportunities available in the new build market at the moment, it is a very good time for first time buyers to be looking to get on the property ladder.”