According to the latest National Association of Estate Agents (NAEA) Housing Market report, figures show the level of sales to first time buyers was the highest since records began 16 years ago in 2000.
All of home sales in October, 32% were to first time buyers, a 9% growth from September. A high proportion of sales at a similarly high level for first time buyers, was also witnessed last October where they reached 31%.
Commenting on the figures was Mark Hayward. The Managing Director for the NAEA expressed that the findings indicated a shift away from referendum related uncertainty, and a need for the Government to address supply levels: “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 first time buyers fall. After shrugging off the uncertainty, we have seen an increase in supply and a rise in the number of sales to first time buyers this month – proof the market is beginning to bounce back.
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