The number of first-time buyers is at its highest since 2007, two property businesses have separately said.
LSL this morning said that in July there were the highest number of first-time buyers since November 2007.
Connells Survey & Valuation meanwhile reported that the number of first-time buyers this August was higher than in August 2007.
Connells said that in total there were 40% more first-time buyers last month than in August 2012 and 1% more than in August 2007, with 4% more first-time buyer valuations than in July this year.
LSL calculated a total of 26,100 first-time buyer transactions in July, up 8,100 from July 2012.
However, LSL warned that with rising house prices, the next wave of first-time buyers could be frozen out of the housing market because they cannot raise a deposit.
According to LSL, the average first-time buyer in July was 30 and earning an annual salary of £36,299.
Comments
RE "However, LSL warned that with rising house prices, the next wave of first-time buyers could be frozen out of the housing market because they cannot raise a deposit."
I love the way blame is always laid at deposits. Of course all these first time buyers can afford house prices at 10 times their wages. Ever higher house prices are not the problem as everyone can afford that its those pesky deposits which are a issue. lol
If you can afford 1/2 a million on a 2 bed flat why can't you afford to save a deposit, this country is broken.
Well they better be quick. Halifax says house prices are now up over 5% on the year. The boats are leaving the harbour...