First-time buyers responsible for almost 50 percent of house sales

Written on 3 June 2014 by Alistair Boscawen in Property News


Figures show that newcomers made nearly half of all property purchases in May.

The latest data shows that first-time buyers, generally in their early thirties, accounted for some 48 percent of house price activity last month.

This figure is well above the average of 38 percent and indicates that Generation Y are keen to secure their place on the housing market in case prices continue to soar.

According to Nationwide, house prices rose some 11.1 percent in the year to May, but only 0.7pc on the previous month.

Figures also show that the average value of a home in the UK increased from 183,577 to 186,153 from April to May.

For more information click on the source below:

The Telegraph

 

Alistair Boscawen

Alistair has 32 years’ experience as an estate agent, starting in the country house department of one of London’s main international agencies before moving to the Knightsbridge house department of the same agency and learning the difference in values between freehold, long lease and short lease houses in Knightsbridge, Belgravia, Chelsea and Mayfair.

All articles by Alistair Boscawen

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