First time buyer numbers rise

It would appear that figures used from February 2015 show that first time buyers now account for a third of  all house sales, that is according to a report by the National Association of Estate Agents (NAEA) These figures confirm that the tide is beggining to turn for first time buyers, it would appear that policies are feeding through and young buyers are finally seeing the possibility of getting their foot on the property ladder being a reality.

The Government is now backing three Help-to-Buy schemes, the schemes offer the first time buyer help to buy from developers or builders, to people buying existing rather than just newly built homes, the last scheme the  Help-to-Buy ISA was introduced  in the recent budget ,  information on  Help-to-Buy can be obtained from  on these schemes is on the website helptobuy.org.uk.

We still have the election to get through on May 7th,  any change away from a Conservative led Government may see a change to such Help-to-Buy policies,  it appears for the moment that agents seem to be firmly in favour of a Tory majority, many agents seem concerned about Labour and what effect the introduction of the Mansion Tax may have on the property market. Whoever wins [the General Election], they will need to make sure that building more affordable homes is top of their agenda.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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