First Time Buyers don’t seem to be concerned by rising house prices in 2020

Although average deposit for first time buyers has increased by more than £10,000 and whilst market was closed during lock down, first time buyers were still leading the majority of the purchase property market.

They have however, dropped down in second half of the year when the market reopened but despite all the challenges with increase in house prices as well as the need to have a bigger deposit, FTB’s have still accounted for half of the purchases!

This goes to show that First Time buyers play an important part in the property market.

The only concern is that with the current pandemic which has economic impact on income, reduction in salary, being furloughed or losing jobs, this makes it that much harder to make first step onto the property ladder

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Information sourced & for full article please visit Property Reporter HERE

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