FTB volumes at their best in the last 6 years

FTB volumes at their best in the last 6 years

The number of first-time buyers who are coming onto the housing market in the first half of 2013 is at its highest in the last seven years, a new report has specified.

According to the latest released data from Halifax, the number of people who are taking this initial step has increased to more than 120,000 in January to June 2013, a growth of 19 per cent year on year.

This was the highest volume of new buyers, who provide a significant boost to the market, since the first six months of 2007, when it sat at around 180,000.

The credit for growth must go to schemes such as Help to Buy, a governmental initiative which saw newcomers able to get houses with just a five per cent deposit.

Craig McKinlay, mortgages director at Halifax, said: "The increased availability and reduced pricing of higher loan-to-value mortgages introduced over the past year or so have clearly contributed to the number of first time buyers rising to a six year high. Government schemes, such as New Buy and Help to Buy, are also enabling more first-time buyers to enter the market."ADNFCR-1222-ID-801618045-ADNFCR

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