First-time buyers are springing into action to secure their first property. New analysis by estate agent body NAEA Propertymark has revealed FTB buyer sales hit a seven-month high in February.
While other sales remained sluggish in a cautious housing market, the demand and action from FTBs keen to get on the housing ladder kept estate agents busy.
In fact, the lack of competition from other buyers meant FTBs were able to buy at the highest level since last summer.
According to NAEA Propertymark, FTB sales rose by 4 percent from January’s figure of 26 percent.
Chief executive Mark Hayward said: “With demand at a seven-year low, buyers are approaching the market with caution. Over the last seven months, however, we’ve seen periods where FTBs have taken advantage of reduced competition and driven their transactions forward, and this really picked up in February.
“Both buyers and sellers should feel positive. There are still house hunters searching for properties, and there are still new homes coming onto the market.”
Homeward Legal offers the most competitive quote for conveyancing services for FTBs. Talk to our team on 0800 038 6699 – we’re open seven days. You can also get a no-obligation quote for first-time buyer conveyancing here.
And with our no-completion protection, you won’t be lost out financially if your purchase does not go through.