First-time buyer market percentage up

20-May-2009

The proportion of first-time buyers involved in property transactions in April was up 15.3 per cent year-on-year, new research has revealed.

First-time buyers purchasing accounted for 23 per cent of overall activity, according to the National Association of Estate Agents (NAEA).

And the NAEA Housing Market Report, which reported the figures, comes in the week that property consultancy Ducalian said now is one of the best times in the last 20 years for people to buy their first property.

It also comes in the month that Halifax indicated that homes are at their most affordable level since January 2003 - for people with their first mortgages.

The NAEA said: "It could be expected that this figure would rise if mortgage finance was more readily available."

Commenting on the property industry as a whole, Richard Copus from the professional body for estate agents' Devon branch suggested that April brought "an unheralded revival in almost every way".

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