He added that most people in that position are not interesting in making a profit on a home like a buy-to-let landlord.
"The majority of first time buyers want to buy a house to call home: to live in, to pay off the debt over a 25 year period and to end up with something after it," he explained.
"If they can afford to buy that one property in a fair manner, in an equitable manner and buying that property with a mortgage equivalent to what they would have to pay for rent, then it becomes a very obvious and sensible decision to buy."
Recent research from the Council of Mortgage Lenders found that the average first time buyer took a home loan which was 3.3 times their income.
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