18 Sep

FTB numbers surge in the UK property market

FTB numbers surge in the UK property market

The number of first-time buyers who are now able to get their hands on property through estate agents is on the rise, according to newly released figures.

Data from Just Mortgages stated that the volume of newcomers had risen by some 75.7 per cent in the last year to the end of August 2013.

It also stated that there had been an increase in the proportion of the market they command. It said they now account for 42 per cent of all mortgages the company provides, which marks a 7.6 per cent rise when compared to last year.

This surge in the number of new buyers has come about as a result of the incentives government has given to those purchasing and their lenders in the last year, with Funding for Lending and Help to Buy both having had a positive impact.

As well as this, it was reported that people are getting onto the market at a younger age at the current time. In August, the average age of first timers had fallen to 32.1 years, the lowest it has been in well over a year.ADNFCR-1222-ID-801639197-ADNFCR

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