First-Time buyer numbers increase first half 2016
The numbers of first-time buyers made up 47 per cent of the mortgage market in the first half of 2016, that was an increase of an estimated 10 per cent year on year, according to Halifax.
Chris Gowland, Mortgages Director at Halifax, said:
“There was a further increase in the number of first-time buyers in the first half of the year with the total exceeding 100,000 in the first six months of each year since 2012.
“This rise has been broadly in line with a general improvement in market activity and is likely to have been helped by government measures including the Help to Buy scheme.
“Although numbers remain below their previous peaks and many potential first-time buyers are facing escalating house prices and deposit sizes, record low mortgage rates continue to make buying seem a more attractive option than renting.”