As the housing market is showing “definite signs of recovery”, the Royal Institution of Chartered Surveyors (Rics) has said it believes the market could become favourable for first time buyers.

As the housing market is showing "definite signs of recovery", the Royal Institution of Chartered Surveyors (Rics) has said it believes the market could become favourable for first time buyers.

The prediction was made as house prices are expected to see only a 2moderate rise" over the next two years, making it an ideal time for potential buyers to save up for a deposit.

Milan Khatri, chief economist at Rics, said that that this was one of the biggest barriers that first time buyers had to overcome.

However, he added that 2006 would still see a market that was "not going to be easy".

The latest house price indexes from Nationwide and Halifax also showed that Scotland continues to provide the most affordable housing for first time buyers, while London remains notoriously unaffordable.