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.
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