First-time buyer numbers drop

The share of the residential housing market held by first-time buyers fell in the first quarter of the year, a new survey has revealed.

A poll of estate agents who are members of the Home Sale Network reported that only 14 per cent of sales were to such buyers in March, three per cent down on a year earlier, reports member agency Manning Stainton.

One of the other trends which the survey found was that 57 per cent of members had seen an increase in the past three years in the number of first-time buyers having to team up with a partner, friend of family member to get in the ladder, an indication of declining affordability.

In addition to these findings, a study by mform.co.uk has revealed that first-time buyer mortgage fees have risen 35 per cent in the past 12 months.

Would-be first-time buyers unable to get on the housing ladder in the normal way because of these trends may look at self build as an alternative.


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