New Buyers

The housing market continues to keep buyers and sellers on their toes  

The ever dynamic property market

Home buying surge with the spotlight on first time buyers


30 second read.

Posted: 01/07/2021

FIRST TIME BUYERS RETURN TO CITY CENTRES 


In the past two months, first-time buyers in particular are returning to city centre locations in the UK housing market. Over a quarter of homeowners planning to move named a move to the coast or countryside as their motivation. However, for the first-time buyer category, this was only 10%, according to a study by Rightmove.

Demand is particularly high for two-or three-bedroom flats in city centres with home office space and a balcony.

With competitive interest rates and a larger amount of mortgage deals available with lower loan-to-value ratios, there are a number of options for first-time buyers.

Rightmove’s study of more than 1,000 first-time buyers revealed one in five, or 17%, are planning to use the 95% mortgage guarantee scheme or are already using it. Just under two-thirds, or 60%, of first-time buyers said they’ve been able to save more money during the past year.

image by: Andrew Mead