First- time Buyer Numbers Continue to Rise

The number of first time buyers in the UK has continued to rise and in the first six months of 2014 they reached their highest level since 2007 according to the Halifax.

The company’s bi- annual First-Time Buyer Review revealed there was around 144,500 first-time buyers in the first six months of 2014 an increase of 25% on the same period last year.

For the third successive year the number of first -time buyers, in the first half of the year has been over 100,000.

First-time buyer numbers also rose by more than any other group of home movers, increasing their share of the home purchase market from 44% in the first half of 2013 to 46% in the same period this year.

Almost two-thirds (60%) of all first –time buyer purchases in the first half of 2014 were above the £125,000 stamp duty threshold, which is up from 51% a year earlier.

“The resurgence in the number of first –time buyers getting on to the housing ladder has been buoyed by improving economic conditions, rising employment levels as well as government schemes such as Help to Buy, which have helped more first-time buyers on to the housing ladder,” explained Craig McKinlay, Mortgages Director at Halifax.

If you have any residential property related questions for me or if you are a first-time buyer I can help. Please contact Alison Gourley on ajg@mitchells-roberton.co.uk or telephone me on 0141 552 3422

This entry was posted in Legal and tagged , by Alison Gourley. Bookmark the permalink.

About Alison Gourley

Alison graduated from Edinburgh University School of Law in 1991. She joined Mitchells Roberton in 1996 and became an Associate thereafter. Alison specialises in both commercial and residential conveyancing, advising individuals, large and small businesses, banks, charities and further education institutions on all property transactions. Having 20 years experience in property law Alison has developed excellent relationships with surveyors, independent financial advisers and banks so is ready to act swiftly and effectively to meet her clients’ needs in an ever changing property market. She enjoys getting to know her clients and is committed to giving them an efficient service and is always friendly and approachable. She is also involved with the marketing aspects of the firm and is the solicitor in the office who trains the conveyancing paralegals. Alison is married to a photographer and has one child. In her free moments she likes to keep fit. She is a talented amateur artist and loves nature and the great outdoors.

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