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First Time-Buyer Market Improving...

July 4th 2012
By: Melanie

Despite tight lending from banks Rightmove has said that 27.9% of the buyers over the next 12 months would be first-time buyers, the highest share since their survey started in 2009.

This combined with an interesting new study from the Post Office shows that men are looking to save more of a deposit than women, with approximately 18% of its value compared to women who expect to raise 14%.

Women are more likely to take on a renovation project, where as men would prefer to move straight into a ready-made ‘bachelor pad’.

The average age of a would-be buyer has also decreased by one year to age 31.

Miles Shipside, director of Rightmove, said: 'The results come as a welcome surprise, hopefully this three year high in intending first-time buyers will come to fruition.
'It seems that some five years into the property market downturn, more are getting their heads and wallets around the new rules of first-time home-ownership, though they still face some testing challenges.

'The property market needs this upward trend in first-time buyer activity to continue as first-time buyers perform an essential role at the bottom of the property market food chain. They give second-steppers the resources to trade up the housing ladder, as well as alleviating demand and upwards rental pressure in the rented sector.'

If you are a first-time buyer why not pop into your local branch of Intercounty for a chat and a coffee we would be delighted to discuss your options for your first home.