While Hometrack portrays a worried market, Rightmove this morning says that first-time buyers are ‘surprisingly’ upbeat.
It said there are more prospective first-time buyers than at any time for three years, and that while the biggest concern for 33% is about raising a deposit, the proportion is down from 42% a year ago.
Almost three in ten people expecting to buy a property in the next 12 months will be a first-timer, Rightmove said. And the average age of the intending first-time buyer has fallen by one year to 31.
Miles Shipside, director of Rightmove, said: “The results come as a welcome surprise, and hopefully, this three-year high in intending first-time buyers will come to fruition.”
He added: “It seems that some five years into the property market downturn, more are getting their heads and wallets around the new rules of first-time home ownership, though they still face some testing challenges.”
Rightmove questioned 19,434 potential buyers in April for its latest survey.
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Comments
That's it quite simply Hants EA.
The loss of a few quid unearned capital gains further up the ladder is the gain of the priced-out FTB at the bottom.
Or looking at it differently rather than the % of ftbs wanting to buy in 1 year being up could it be the number of 2nd time buyers has fallen due negative equity with the continued house price falls?
Of course they are more upbeat.
As prices fall and they get used to the idea that a deposit needs to be saved rather than just waiting for "things to return to normal", home ownership moves within reach.
It's when prices are rising faster than they can save that it becomes depressing.