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Young, first time buyers give housing market a boost

So far this year, the UK housing market has seen pretty healthy growth.  Research has shown that this has largely been driven by the surge in first-time buyer activity.

The influx of interest from the first-time buyer market helped to combat the reduced buy-to-let activity that 2016 has seen.  After the additional 3% stamp duty surcharge on second homes came into force in April, this market is unlikely to recover quickly.

The increased activity for first time buyers is being attributed to the Government initiatives to help younger first-time buyers get onto the property ladder, including the Help to Buy scheme and the Lifetime ISA, combined with an improving economy.

In addition, special first-time buyer ‘discounts’ on certain properties are also playing a part, helping those on lower incomes to bridge the affordability gap and get a foot on the rung of the property ladder.

All of this is good news for property sellers.  With more first-time buyers entering the market the number of prospective buyers increases for each property.  It’s a key time for sellers, to make sure their properties stand out from the crowd, so if you’re falling out of love with your current estate agent, why not get in touch with Joyce Heeps Homes and see if we can breathe life into your property listing?

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