The number of first time buyers stepping on to the property ladder recently reached the highest levels in nearly two years, according to Your Move.
James Skidmore, Head of Mortgages at AAG, commented “This is great news, not only for those getting onto the property ladder, but also for the market in general.”
“Traditionally, the property market is held up by first time buyers, so it’s good to see that there are still opportunities for those who want to get buy their first property.”
A lot of industry experts reported that the past few months were going to be dominated by investors and buy to let landlords, following Osborne’s changes to stamp duty for second properties.
“We did see a lot more investors purchasing buy to let or second properties, but it’s encouraging to see that this is not at the expense of first time buyers” James concludes.
The report shows that homes bought by first time buyers rose by 48% between February and March 2016, to a total of 32,500 – the most purchases in a single month since June 2014.
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