Eager 'wanabee' homeowners have queued overnight in Belfast to submit their applications for a limited offer co-ownership scheme.

Around two dozen people sat outside the Co-Ownership office in a bid to secure one of this month's limited number of 55 spaces. It is believed the line began to snake as early as Wednesday afternoon, a sign that buyers are very much back in the market.

More houses now fall under the remit of Co-Ownership's £175,000 cap, following continued falls in property prices.

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It is estimated around 30% has been wiped off the value of homes since 2007.

Some of those queuing said they had been trawling the market for weeks and months in order to get a sale agreed.

One first-time buyer said: "I need to get an application accepted so I can buy my three-bedroom house. If not I will lose the £500 holding fee I've paid."

Several of those queuing said they were leaving rented accommodation, as it now seemed better value to buy through the co-ownership scheme.

See: £35m Cash Boost For NI Co-Ownership

See: Co-ownership Closes Its Doors

(PR/BMcC)