First-time buyers urged to buy now

Jackie Day, sales director at David Wilson, commented: "Priced at £194,995, the Shelburne offers good value for money and an ideal opportunity for prospective homeowners to get a foot on the ladder."

The open-plan living arrangement gives a modern twist on a traditional property, the developer noted, and Ms Day suggested that people take advantage of the deals currently on offer to them.

Even first-time buyers who do not have a large deposit to hand can make their move on the property market, she added, with plenty of properties available for them to take their pick.

The Bank of England reported on June 2nd that the number of new mortgage approvals had increased for the third consecutive month.

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