Numbers of first-time buyers increase for 6th consecutive year according to latest halifax First-Time Buyer Review.
The latest Halifax First-Time Buyer Review released 27th January 2018 headlined ‘Number of first-time buyers highest since 2007 despite deposits doubling.’
The number of first-time buyers is estimated to have reached 359,000 in 2017, an increase for the sixth consecutive year, while those taking their first step on to the property ladder are putting down almost double the deposit than a decade ago, according to the latest Halifax First-Time Buyer Review.
Russell Galley, Managing Director, Halifax said: “A flow of new buyers into home ownership is vital for the overall wellbeing of the UK housing market. This ten-year high in the number of first-time buyers shows continued healthy movement in this key area despite a shortage of homes and the ongoing challenge of saving enough of a deposit.
“Low mortgage rates, high levels of employment and Government schemes such as Help to Buy 4 have helped first-time buyers become a much greater segment of the market, and the recent abolition of Stamp Duty on purchases of up to £300,000 is likely to continue stimulatingthis growth by reducing the upfront costs associated with taking the first step on to the property ladder.”
Read the latest Halifax First-Time Buyer Review latest press release 27th January 2018 in full click here.
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