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NUMBER OF FIRST-TIME BUYERS DROPS

Mon 01 Feb 2016

First-time buyers down 0.5% last year compared to 2014 to 310,000 first drop since 2011

Lack of supply is being blamed with average deposit now in excess of £32,000 across the UK and London requiring an average deposit of over £91,000 with over 25% of buyers taking a long 35 year mortgage. Compared to 2007 the average deposit was £17,499 an increase of 88% due to the lack of supply of 100% mortgages

Craig McKinlay, mortgages director at Halifax, said: “Although the average price of the typical first-time buyer home has grown by 10% in the past year, the number of buyers taking that first step onto the housing ladder has been supported by favourable economic conditions; namely, record low mortgage rates, rising employment and real pay growth.”

"This is a lovely estate agents. The staff are very helpful and knowledgeable of the local and surrounding areas. The advertising they undertake is striking and the for sale boards stand out. They keep you informed about all the chain when they can. The shop layout is very good and you feel comfortable browsing the houses for sale. No parking nearby so you will need to go to the public car parks around the corner"
Anon