Affordable housing is available for first-time buyers who are able to secure a large deposit, according to one trade body.

The Building Societies Association (BSA) says with mortgage rates and property values at a historically low level, the time is right for buyers who can afford it to take their first step on the property ladder.

"For those first-time buyers in the fortunate position where they have got parents who can help them out with deposits - it's a great time for them," added Paul Broadhead, head of mortgage policy at the BSA.

Figures released this month by Halifax show that one in five (21 per cent) of Britain's local authorities were classed as affordable in the first quarter of 2009, compared to just six per cent in the third quarter of 2007.

However, buyers are being urged to make their move soon, as data from Nationwide this month showed that house prices rose by 1.2 per cent in May.

Source: Direct News 1/6/09