Wider market slowing but first-time buyers defying trend

Despite a wider market slow-down, the number of first-time buyers was up 11% in September.

The claim comes in a new report out this morning from LSL, which has tracked first-time transactions at Your Move and Reeds Rains.

Based on those, LSL estimates that there were 25,800 first-time buyer completions in September, up from 23,200 a year ago.

The average price a first-timer paid was £150,950 – 3% higher than a year ago – but the average deposit was 8% lower, although still a hefty £26,134.

In London, the average deposit has been heftier still, at £75,774.

The firm says that Help to Buy has been a major factor in increased first-time buyer numbers.

LSL director David Newnes said: “Help to Buy has helped keep the blood pumping in the first-time buyer market over the last year.”

Podcasts
x

Email the story to a friend

Leave a reply

If you want to create a user account so you can log in, click here

More top news stories

Thank you for signing up to our newsletter, we have sent you an email asking you to confirm your subscription. Additionally if you would like to create a free EYE account which allows you to comment on news stories and manage your email subscriptions please enter a password below.