The growth of house prices in the capital has been further fuelled by the first-time buyer market. According to the Index, the number of first-time buyers increased by 12.5% during February 2010 with hot spots in Wimbledon, Wembley Park and Southfields.
Russell Jervis, Managing Director of haart, said: "Overall, the figures for February are extremely promising. First-time buyers are always the litmus test of any property market – and the signs so far this year are good. With more first-time buyers coming to the fore, the property market in London now appears to be gaining momentum.
"This should give confidence to sellers as we still need more properties on the books."
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