First-time buyers are likely to be comforted by a survey released today, showing first-timers returning to the property market as a slowdown in house prices growth begins to boost confidence.

The monthly survey, conducted by Spicerhaart Financial Services, showed that the number of first-time buyers rose to the highest level in the last eight months, hitting 40 percent of all house sales, up three per cent on last month.

Steve Cox, operations director of Spicerhaart Financial Services, indicated that the increase was a reflection on the overall stability of house price growth witnessed over the last few months: "With property price growth finally cooling and stabilising in some areas, first-time buyers appear to be confident in their financial security."

He went on to highlight the determination of buyers to own their own property by referencing figures released by the Royal Institution of Chartered Surveyors which showed that getting on to the housing ladder is the hardest it has been since 1990.

Mr Cox insisted that first-time buyers were prepared to borrow more or get help from families in order to overcome the financial difficulties of buying.

The Bank of England announced yesterday that it was freezing interest rates at 5.75 per cent, leading to speculation that rates may have peaked after five rises since August 2006.