Pent up demand from 1.4m first-time buyers could provide support for the softening housing market next, says RICS. Daily Telegraph

In its latest monthly survey it says first time buyers put off by high prices might take the plunge.

RICS extimates that first-time buyers spend 44% of their take-home pay on mortgage payments, up from 30% in 2004. But RICS expects the number of transaction to plummet.