First Time Buyers continue to flood the market

Despite the fast-approaching end to the stamp duty holiday, the number of sales made to first-time buyers rose to 28% - up 8% against July's figure of 20% and a clear indication that demand for property remains high as stock levels continue to drop.

The latest data from NAEA Propertymark has also revealed that during August 37% of properties sold for more than the original asking price.

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SOURCE: Property Reporter

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The percentage of first-time buyers’ household income going on mortgage payments

What this really shows is not house prices, but pressure. Affordability is about monthly cost, which varies across the UK. In London and the South, first-time buyers can spend over half their income on housing, while elsewhere it is far lower. To learn more please read on..

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