Second-hand house supply rises by 40%

The supply of second-hand houses has gone up 40% since last year.

According to the Douglas Newman Good six-monthly property review, first-time buyers now have a better choice as more houses are on the market.

This has also kept prices stable at the lower end of the market.

Economist Paul Murgatroyd said: "Potential first-time buyers have pretty favourable conditions at the moment. There is a good amount of supply in the starters market.

"We have found that overall supplies are up 40% from last year. That means that first-time buyers have a good selection in choice of properties in different locations."