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First-time Buyers

A third of sales made to first-time buyers in October

Christina Hoghton
Written By:
Christina Hoghton
Posted:
Updated:
02/12/2016

First-time buyers accounted for a third of sales made in October, according to the National Association of Estate Agents, a 9% jump from September and the highest number since records began.

The average agency branch saw nine sales last month, had an average of 43 homes available, and 440 house hunters on their books.

Mark Hayward, managing director, National Association of Estate Agents (NAEA), said: “This month’s report paints a positive picture for the UK housing market. Our findings over the last few months indicated mild uncertainty immediately following Brexit – and last month we even saw sales to FTBs fall.

“After shrugging off the uncertainty, we have seen an increase in supply and a rise in the number of sales this month – proof the market is beginning to bounce back.”

What the market needs now is a clear plan to tackle the chronic homes shortage, said Hayward. “During the Autumn Statement, the Chancellor announced a boost to house-building which is a start but sadly nowhere near enough. We have high hopes for the Housing White Paper as this will set the housing strategy and intent for this government going forward.”