Buyers new to the property market made up 36% of all sales in 2018 and have been rising in numbers since 2010.
It appears that buyers all over the country are now taking a longer-term approach and are buying properties that are suitable to stay in for quite some time, instead of purchasing the cheapest property on the market. It is estimated that to buy a 2 to 3 bedroom house, a households typical income would need to be £35,000 – £75,000. Those looking to buy have been squeezed since the financial crisis as wages have grown slower than inflation however Help to Buy has been a massive factor in the increase and it is estimated that in 2018, 14% of all first time buyer purchases used Help to Buy.
With uncertainty over Brexit, buyers have been able to take advantage of competitive price reductions and are expected to remain the largest buyer group in 2019. Fortitudo has a growing portfolio and many developments available with Help to Buy, to take a look, visit fortitudoproperty.com.
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