developer efforts could help first time buyersFirst-time buyers now have a chance to get onto the housing ladder as prices fall, SmartNewHomes.com has suggested, with this window of opportunity being widened further by developers eager to sell off more new property.

The property website has released its latest figures, showing that the price of a new home fell 0.9 per cent on the month and by 1.2 per cent over the last quarter, adding that end-of-year financial results could be of interest to FTBs.

The average price of a new home is £257,036, the website reports, but a combination of late-year trends and special offers could see this come down still further.

"With many financial year-ends for housebuilders taking place just before Christmas, the majority of developers will be acting quickly to sell units," advised SmartNewHomes.com managing director David Bexon.

"This will come as welcome news to first time buyers who are the lifeblood of the housing market and play a vital role in feeding a continued demand.

"The latest developer incentives [...] are expected to aid first time buyers and reduce the affordability pressures currently preventing them getting onto the ladder," Mr Bexon added.

Average house prices for the wider market are also beginning to fall, according to recent data from Halifax and Rightmove.