First time buyers continue to enter the market
A recent survey has found that first time buyers continue to enter the UK property market.
When asked whether there was an increase in first time buyers in 2011 compared to the end of 2010, over a third (35%) of respondents indicated that they had seen an increase.
62% of survey respondents named a lack of mortgage deposit as the biggest influence in preventing more first time buyers from entering the market. A further number reported that it was a lack of mortgage availability that was preventing some first time buyers from home purchase.
The survey suggests that although the mortgage market continues to be a challenge to first time buyers, many are finding new ways to be able to afford their first home, whether it’s buying a property with a friend or a family member and so now is a good time to get on the property ladder.
