First-time buyers 'moving to the country'
14-Sep-2009
More and more
first-time buyers are upping sticks from the cities and moving to the countryside, according to new research.
The Rural Housing Review from Halifax revealed 27 per cent of homebuyers in the green areas of the UK are those purchasing their
first property.
According to the organisation, this is the highest market share for the sector since 2000.
However, on average, those acquiring their first house take up some 44 per cent of urban sales.
One of the most popular regions for those stepping onto the ladder was the Wear Valley in the north-east and Ceredigion in Wales, which had the highest proportion of
first-time buyers, who represented 47 per cent of house hunters.
Suren Thiru, economist at Halifax, said: "Homes in rural areas continue to command a marked premium over urban locations, partly reflecting the quality of life benefits that many people associate with living in the countryside. "
Those purchasing their
first property were recently advised by Abbey to do so before the end of the year, when stamp duty exemptions will expire.
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Mortgage advice: Fixed-rate home loan fees on increaseMortgage advice: Buy before end of 2009 to avoid stamp dutyBuy-to-let market 'may be difficult for first-time buyers'
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