First-time buyer funding
13th November 2023
The average deposit paid by a first-time buyer was £43,693. Perhaps unsurprisingly, almost two-thirds (63%) were in the top 40% income bracket.
Just over two thirds (68%) of first-time buyers paid less than a 20% deposit, while a fortunate 5% were mortgage-free.
85% reported funding the purchase of their first home with savings, whilst 27% received help from family and friends and 8% used inheritance.
Despite high costs, first-time buyers accounted for 53% of all home moves in Q3, the highest proportion in over a year. With increasing stability and the likelihood of mortgage rates coming down, more first-time buyers may enter the market in the coming months. Source: #Dataloft, English Housing Survey 2021/22, Really Moving
Employee of the Month – April 2024
9th April 2024
Our Employee of the Month for April 2024 is one of our Maintenance Administrators – Maddie Breed! Maddie has been…
Sales Blossom in Spring
9th April 2024
In the past five years (excluding 2020 due to Covid), springtime bloomed with 27% of home sales, the highest proportion…
Spring budget 2024
7th March 2024
The Spring Budget this year felt very much like a keep calm and carry on budget for the housing market….
