6
Feb
First-time buyer percentage increasing, study shows
The proportion of property buyers who are making their first
purchase has been found to be rising.
According to the National Association of Estate Agents (NAEA),
first-time buyers accounted for 22.5 per cent of activity in the
first two weeks of the year.
With this figure having risen from just ten per cent in December,
the body has noted that it could signal the start of a
revival.
Chief executive of the NAEA Peter Bolton-King said the statistic is
"not a sign that the housing sector is out of the woods yet", but
added: "It does suggest that those infamous green shoots of
recovery may not be as far off as first thought."
Other findings include the fact that buy-to-let landlords currently
represent 22 per cent of the market, a figure the NAEA suggested
means property remains a sound investment.
This week the Bank of England lowered the official base rate to one
per cent, a move that could make mortgages more affordable for
first-time buyers.
