Diminishing numbers of homeowners are planning to remortgage in 2008 but the property slump is providing golden opportunities for first-time buyers.

According to website propertyfinder.com almost 20 per cent of its visitors planned to get on the property ladder in 2008 - five per cent more than last year.

The proportion of its visitors planning to buy an investment property also went up by 1.5 per cent, suggesting predictions for an unhealthy property market in 2008 are not affecting investors or first-time buyers.

However, far fewer people, according to the survey, plan to remortgage their property this year with only 10.4 per cent of visitors resolving to do so. This compares to 14.2 per cent last year.

And people seem far more likely in 2008 to put their home up for sale, with 16.8 per cent saying this was among their new year's resolutions - a rise on last year.

All this, said propertyfinder.com, meant spending money on housing was clearly far less important to people in 2008 than it was in 2007.

Warren Bright, chief executive of the website, said it was not all bad news and the results showed a slackening price growth was not deterring people from bricks and mortar entirely.

He added: "In fact, the prospect of a weaker housing market is giving a boost to the chance of first-time buyers and investors.

"As the balance of power shifts from seller to buyer, there will be real opportunities for these people to make opportunistic bids."

Mr Bright also suggested if interest rates fell in January, in line with predictions, affordability pressures would begin to ease a little too.

Source: http://www.myfinances.co.uk/news