In July there were 29,700 first-time buyers purchasing properties; the highest number since August 2007 and sales have risen by 4.9% month-on-month.
Part of the momentum behind these increased sales to first-time buyers is the realisation for buyers that they must get on the housing ladder ahead of a base rate rise, and before these excellent deals are withdrawn from the market place.
It seems that people wanting to get on the property ladder are undeterred by the fact that the average deposit needed to buy a house is £27,975- up 10% annually, and is nearly 72% of an average income.
First-time buyers are paying an average price of £161,985, an increase of 8.9% year on year.
If you are a first time buyer and want to get on the housing ladder why don’t you pop into your local branch of Intercounty or call us on 0844 8111 090*
*Calls cost 7 pence per minute plus your phone company’s access charge