New research shows first-time buyers developing a preference for flats rather than houses when conducting a search for their ideal property, reports mortgagesolutions.co.uk.
A survey from LSL Property Services reveals that two-thirds of Brits wanted to make their step on to the property ladder in February by investing in a flat.
Of course, the perfect apartment may not always be on the market – and LSL showed that many Brits are happy with a house if it meets certain criteria.
According to independent.co.uk, under half of first-time buyers were on the lookout for detached or semi-detached properties with three or more bedrooms.
An additional quarter said they would be open to the idea of a house with two bedrooms, although other readings from the study suggest that price could force more people to opt for smaller homes.
Eight in ten Brits expect house prices to rise over the course of 2014 and nine per cent believe the average growth will surpass ten per cent year on year.
This foresight may be causing a spike in house buying among Brits that have grown fearful about their chances of buying a house after a rise in prices.
LSL says 22,400 first-time buyers purchased property over last month, up from 15,800 during the same period in 2013.