First Time Buyers sales increase by 9%
The latest research from the National Association of Estate Agents (NAEA), has found that the number of sales made to first time buyers rose in September.
According to the report, buyers taking their first step on the housing ladder accounted for 29% of all sales in September, compared to 20% in August – the highest since May this year when sales to the group made up 29% of total sales.
Mark Hayward, managing director, National Association of Estate Agents, said: “It’s obviously very positive to see that the number of sales being made to FTBs has risen this month. We saw an average nine sales going through per branch in September, which means that for each branch, around three sales were made to the group. We’re seeing a whole range of new competitive mortgage products coming on to the market, which is likely to be encouraging first steppers to take the plunge, as well as the fact that the ‘impending’ interest rate rise has now been pushed back to next year at the very earliest.