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
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."