24 Mar

Rise in first-time buyers

Rise in first-time buyers

There has been an increase in the number of first-time buyers entering the UK property market, according to new figures.

The latest Housing Market Report from the National Association of Estate Agents (NAEA) showed an increase in people stepping on to the property ladder in February compared to the previous month.

A total of 29 per cent of all homes sold by NAEA member agents were purchased by first-time buyers last month.

However, there was a decrease in the number of buyers during the month, with the supply of properties dropping to its lowest point in nearly ten years.

"The housing market remained strong in February with first time buyers continuing to turn out in force. As confidence in the housing market continues to rise, NAEA agents expect the number of first time buyers to remain strong," said NAEA president Jan Hytch.

It is expected the recent decision to extend the government's Help to Buy scheme could also enable more people to purchase their first home.ADNFCR-1222-ID-801706148-ADNFCR

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