Number of first-time buyers at 9 year high

This may come as a surprise to some, but despite higher house prices, there were more first-time buyers in 2016 than at any time since the financial crisis, reported by our friends at Zoopla.

First-time buyer numbers sored to a nine year high in 2016 despite the typical price paid for a starter home breaking through the £200,000 barrier.

More people took their first step on to the property ladder last year than at any time since the global financial crisis struck

Mortgage lender Halifax estimates there were 335,750 first-time buyers in 2016, the highest figure since 2007 when 359,900 bought their first property.

The typical deposit put down by a first-time buyer had more than doubled since 2007 to stand at just over £32,000.

To see a full copy of the report from Zoopla please
click here

Are you a first-time buyer looking for a mortgage? Contact our financial experts at Embrace Mortgage Services on 01480 474488 or email or click here to contact us. We have an Embrace Mortgage Services mortgage adviser based at each of our 7 Thomas Morris Sales & Lettings branches.

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