12 Mar

FTB numbers hit a four-year high

FTB numbers hit a four-year high

The number of first-time buyers able to make purchases of homes through estate agents in February was at the highest level seen at any point since March of 2009.

Ever since the financial crisis that hit the UK in 2008 and 2009, first timers have struggled to gain a footing on the ladder, largely because they faced an initial outlay of about 20 to 25 per cent for the deposit on their mortgage, which was too high for most.

However, according to the latest data from the Housing Market Activity Report by Connells Survey & Valuation, 13 per cent more were able to buy throughout February thanks to lenders easing borrowing conditions.

It also added that the number of valuations it had carried out on behalf of newcomers to the market was a full 25 per cent higher in February than it was just a year ago.

John Bagshaw, Connell's corporate services director, said: "The wider economy might not be nurturing bright green shoots quite yet. However, for the housing market things are looking increasingly positive as a growing number of first time buyers feed into overall activity."ADNFCR-1222-ID-801554996-ADNFCR

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