Some 30 per cent of all sales in February were made to first time buyers, the highest proportion in eight months according to the National Association of Estate Agents.
The association's February market data also shows that demand is up, with 366 buyers registered per NAEA member branch, up from 353 in January. With supply marginally down from 44 houses per branch in January to 43 in February, there remains significantly higher demand than supply.
The total number of sales agreed in February remained the same as previous months, with eight house sales going through per NAEA member branch.
"Things are starting to ease for first time buyers, which could be down to reduced property prices or more accessible funding, especially following December's stamp duty reforms" claims Mark Hayward, NAEA managing director.
"We'll be waiting with bated breath to see if the first time buyer figures increase following the new Help to Buy ISA, and whether we see real momentum in the market. It still remains notoriously hard to get cut-through in the property market, especially for first time buyers, so any green shoots are encouraging he says.
But to counter the good news, some 46 per cent of NAEA member agents say they have seen the market cooling in the lead up to the May 7 election, with over a quarter of agents believing the poll will be the event to have the biggest impact on the housing market this year.
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