You are here: Home - Mortgages - First Time Buyer - News -

First-time buyers: why now could be the time to get a bargain

0
Written by: Christina Hoghton
30/01/2018
Demand for housing may be down but that means those buyers actively househunting are able to take advantage, according to NAEA Propertymark.

The number of househunters registered per estate agent branch fell by 20% in December, with the rate of sales per branch falling similarly to an average of just five during the month.

However, first-time buyers took the opportunity to buy in this quiet market, with sales to the group increasing to 32%.

This is the highest rate seen since September 2016, and up from 27% in November.

Supply stagnant

The supply of available properties remained stagnant in December, falling by just one to 33 on average per branch. This is down 20% from last December (2016) when agents were typically marketing 41 properties per branch.

Mark Hayward, chief executive of NAEA Propertymark, said: “We see this year in, year out. Buyers take a back seat in December to enjoy the festivities, while sellers keep their homes on the market in the hope that someone will take interest and make an offer.

“What we don’t usually see is first-time buyers capitalising on this slump and using it to their advantage – 44% of our members think that the Chancellor’s stamp duty cut for FTBs will encourage more to make offers, and it looks like that’s what we’re starting to see. Hopefully this enthusiasm won’t falter when the second and third time buyers come back onto the market in the new year and competition hots up again.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Chancellor requests simplification of IHT rules

The Chancellor has asked the Office of Tax Simplification to look at ways of simplifying the inheritance tax (IHT) regime.

Close