First-time buyer activity surged in January as 21% more first-time buyers took out a valuation on a property.
As it stands first-time buyers account for a third (34%) of activity, up from a quarter (25%) at the start of last year.
John Bagshaw, corporate services director of Connells Survey & Valuation, said: “With UK employment close to its 11 year high and weekly earnings rising by 3%, many first-time buyers are fitter financially than they were a year ago.
“Aided by cheap mortgages rates, aspiring homeowners have seized the opportunity to get their first foot on the ladder.
“The demand for homes has been particularly high in January, with the Connells Group estate agency network for instance seeing nearly 12 applicants per each new instruction that comes onto the market.”
Bagshaw added: “As a proportion of the overall valuations, first-time buyers are now even more important to the health of the market – making up a third of activity.
|Mortgages - Find cheapest. Rates from 0.98%. 1st time buyers, remortgages, self-employed, adverse & CCJ, Landlord buy to let. Compare now|
|Sell or Let Property FREE on Houseladder 0% no fees. Free property advertising. List 1 to 1000 properties to millions of buyers and tenants. Upgrade to a Premium advert for only £30 and sell or let your property FASTER! Create Ad|
|Make Money - Earn £250 to £2000+ per month part time. Get paid every month for work you do once. Work from home. Flexible hours. Free training. No experience needed. Major UK PLC company. Find out how >>|
|How To Save Property Tax - Updated Sept 2017 “How To Save Property Tax” is widely regarded as THE tax bible for property investors. The 21st edition has just been published (Sept 2017) and is completely up to date. Read now|