Home.co.uk
Home.co.uk

News: One in four UK home sales went to a first time buyer last month

Thu, 19 Sep 13

First time buyers accounted for 26 per cent of transactions in August 2013, the NAEA’s report reveals, the highest level recorded since July 2010. The proportion of first time buyer activity rose from 22 per cent in July as government schemes such as Help to Buy make mortgage lending more accessible to those trying to get onto the property ladder.

While sales rose, supply levels fell in August, added the NAEA, with the number of properties available per branch slipping from 53 to 52 over the month, as eager buyers take advantage of low lending rates.

“The return of first time buyers purchasing property has been anticipated for some time now,” commented the President of the National Association of Estate Agents.

“The significant increase in the number of house hunters, particularly in what’s often a quiet time in the market, is also a very positive sign that confidence is returning.”

 


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