First time buyers reboot property sales in England and Wales

londAccording to the latest research, Over 80% in England and Wales experienced a fall in sales last year but first time buyer numbers continue to grow. As per the analysis report from Lloyds Bank, despite the recent dip in home sales, there has been an improvement compared to five years ago when the market started to recover from the financial crisis. But the market has not recovered to the heights of the last boom a decade ago. Even with the fall in property sales the first time buyer housing market continued to grow.

Andy Mason, mortgage director at Lloyds Bank: “The recovery in the housing market has stumbled during the past year with sales declining in all regions. Despite record low interest rates and Government schemes, such as Help to Buy, sales remain significantly below the levels seen at the height of the last housing boom. The decrease in the amount of people moving home could be caused by movers not being able to find the right home, in the right location or those who don’t have enough equity in their current home to put down as a large enough deposit for their next mortgage. Add to this that the average cost of moving home is close to £11,000, with costs in London over £31,000 and these factors make it more challenging for those looking to move home.”

Comments ( 2 )

  1. / Replygerador de senha
    Artigo incrível .Muito Claro e de fácil compreensão . top !
  2. / Replywiring diagram
    What's up to every one, as I am really eager of reading this website's post to be updated daily. It includes good material.

Leave a reply

Your email address will not be published.

Back to home page