Almost a third of all house sales in February were made to first-time buyers, according to the National Association of Estate Agents (NAEA) February Housing Market Report. The latest data shows sales to first-time buyers were just under 30 per cent, which is the highest proportion on record since the NAEA started its reports in […]
Almost a third of all house sales in February were made to first-time buyers, according to the National Association of Estate Agents (NAEA) February Housing Market Report.
The latest data shows sales to first-time buyers were just under 30 per cent, which is the highest proportion on record since the NAEA started its reports in 2009.
The last time a similar rate was measured was in September 2014.
The total number of sales agreed in February remained the same as previous months, with eight house sales going through per NAEA member branch.
Demand was higher in February with 366 would-be buyers registered per NAEA branch than in January when that number was 353. Supply remained almost unchanged in February with 44 houses for sale recorded per branch. A month ago the offers were 43 per branch.
“It’s clear from the findings in the report that things are starting to ease for first time buyers, which could be down to reduced property prices or more accessible funding, especially following December’s stamp duty reforms. We will all be waiting with bated breath to see if the first time buyer figures increase following the new Help to Buy ISA, and whether we see real momentum in the market. It still remains notoriously hard to get cut-through in the property market, especially for first time buyers, so any green shoots are encouraging,” Mark Hayward, managing director of the NAEA, said.
