First-time buyer’s increase to 36%
February saw the rate of first-time buyer’s increase to 36%, a demographic that currently accounts for just over one third of February’s property market activity, the largest proportion of first-time buyers since July 2011.
It is suspected that the reason for this is twofold; near zero base rate mortgages, and the drop in buy to let purchases.
Continued affordable mortgages are allowing first time buyers the perfect opportunity to get on the housing ladder, and whilst the base rate stays so low, now is the perfect time to buy and many are taking advantage of this.
In contrast, the buy to let market has slowly been dropping since the change in stamp duty, reaching a new low in February and giving a perfect opportunity for first time buyers to come on the market.
At AVRillo we are experts at talking to first time buyers and easing any concerns. We take first time buyers through the excited journey of their first purchase smoothly, and with our 91% success rate, our buyers are soon in their perfect home.
Please contact us: 0208 370 3877 – EMAIL: [email protected]