First-time buyer purchases 'on the rise'

Posted: 12 Feb 2010 10:29:34 GMT

The number of first-time buyers who purchased a home in January has risen despite the end of the stamp duty holiday, it has been revealed.

New figures from the National Association of Estate Agents have found that almost one in four of all properties that were purchased in the UK during the first month of the year were bought by first-time buyers.

Gary Smith, president of the group, said: "This confirms their confidence in the market as well as their ability to obtain attractive mortgage deals."

But January was not just a good month for first-time buyers - the figures also showed that despite the adverse weather conditions that were experienced nationwide, estate agents sold an average of six properties throughout the month, compared with five in December.

The positive news follows recent statistics from Countrywide that found that eight out of the top ten mortgage products that are currently on the market are aimed at first-time buyers, could make it easer for this group of purchasers to secure home loan deals.

© Houseladder Ltd