First-time buyer numbers hit a 12-year high
Numbers of people buying their first home reached a monthly high in August, achieving a level not seen since 2007, before the financial crisis.
The average first-time purchaser borrowed £175,361 or around 80% of the property value. The amount borrowed equates to a multiple of 3.52 of first-time buyers’ income, but with continuing low interest rates, this only represents 17.1% of total household income.
For full briefing click here. Residential Property Review November 2019