First-time buyer rate soars 15%
Figures show the number of first-time buyers soared 15% in April to 22,000 as buyers take advantage of lower rates and wider choice of mortgages, according to estate agency owner LSL Property Services.
Average deposit for first-time buyers up by almost 10%
The increase in the number of first-time buyers is mirrored by a rise in the value of deposits. This is due to the rising price of homes, according to a report by LSL Property Services.
- 22,000 transactions by first-time buyers in April (up 15% from March, and almost 80% from April 2012)
- 9,600 more first-time buyers secured a mortgage in first third of 2013 than in 2012
- 45% of first-time buyers still say that saving for a deposit is the biggest barrier to buying
- Average deposit was £27,178 (up 9.4% from April 2012)
- Average purchase price of homes for first-time buyers rose 2% between March and April to a high of £138,632.
(LSL Property Services)
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