First-time buyer surge
In this short speed read, we look at the data behind the increase of activity in the property market of First Time Buyers
- A record 45,965 Help-to-Buy equity loans were issued to first-time buyers in the year to the end of March 2021, as appetite from first-time buyers (FTBs) continues.
- Over one third of property purchased by FTBs has been priced £200,000 or less, with over half of those benefitting having a household income of less than £50,000.
- 58% of FTBs have purchased with the minimum 5% deposit. The government has advanced loans in excess of £16 billion since the scheme launched in April 2013.
- From April 2021, Help-to-Buy has only been available to first-time buyers, with regional price caps in place, varying from £186,100 in the North East to £600,000 in London.
- Source: Dataloft, MHCLG, data to the end of March 2021