Since the UK voted to leave the EU in June 2016 the property market has ridden the wave of uncertainty that any major decision like this would have on a country. More properties are coming onto the market, giving more choice to first time buyers, this combined with the BOE’s, Bank of England’s decision to cut interest rates to 0.25% has meant that there has been a significant shift in first time buyers being able to secure their first home.
The shortage of supply and strong demand has been the main factor in the rise in property prices, but more property availability means that prices will start to stabilise and first time buyers will have more choice when it comes to buying their first home.
The NAEA, National association of Estate Agents figures reveal that the sales to first time buyers increased by 3% in August, and accounted for 28% of total sales a jump of 8% compared to earlier this year.
Mark Hayward, Managing Director, of the NAEA, said: “Following a few months of uncertainty in the market, it’s more than encouraging to see things moving in the right direction.”
If you are thinking about buying your first home then why don’t you check out the first time buyers guide on our website, it covers everything you will need to know from thinking about your property needs, finding out how much you can afford to securing your first mortgage.
Intercounty Great Dunmow has a two bedroom (featured), terraced character cottage for sale for £250,000 in Dunmow which could make the perfect first time property. The accommodation includes a kitchen, lounge/diner, 2 bedrooms, a bathroom, parking space and a garage. The property also has a small lawned garden and is offered with no onward chain.
- EPC Band E
- Two Bedroom Cottage
- Town Centre Location
- Garage And Parking Space
- No Onward Chain
For more information about this property please call Intercounty Dunmow on 01371 878322 or follow this link.
If you would like to find out more about buying your first home or would like to find out what properties are available in your local area then why not pop into your local branch of Intercounty or give our team a call on: 01279 655248.