Good news for first-time-buyers.
Rightmove reports today that there is surprisingly good new for first time buyers with prices coming to a standstill and more “fresh” property choice.
Fist time buyers saw a 6% year-on-year jump in newly marketed-properties in their favoured market sector, prices have hardly risen suggesting the impending stamp duty levy could be having a calming influence sooner than expected.
Miles Shipside, Rightmove director and housing market analyst comments:
“Upwards price pressure remains, with the second-highest rise seen at this time of year for nine years. The early snapshot of home-hunter visits in the first week of 2016 is up by 21% on the same period last year to 27.8 million visits, showing demand is not letting up either. Encouragingly for first-time buyers there’s more fresh choice with more property coming to market in their target sector. With their asking prices pretty much the same as a month ago, perhaps the knock-on effects of the more punitive landlord tax regime have arrived early and they now face a dilemma over whether to buy now or wait to see if prices drop in this sector over the next few months.”
To read the full Rightmove report click here
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