The UK first time buyer market is shrinking as the majority is getting older there is less first time buyers. In the last 17 years there has been a 27 percent drop in first time buyers. With prices slowly on the rise for a new house and the econonmy the way it is many buyers are questioning whether they want to make that next big step. The average deposit price has raised aswell meaning those potentional first time buyer would have to pay 20,000 or more to secure their mortgage.

Key Takeaways:

• There are fewer first time buyers in the UK market overall. They are also getting much older as an overall population too.
• Buyers tend to follow some strict demographic lines on the whole. They want to get in at the right time as well.
• Look for housing sales to increase in the future for buyers. That is because retirees want to track down UK properties for sale.

“The fact that the number of first-time buyers has been steadily decreasing since the start of the millennium might be due to the increasing difficulties people face when trying to become homeowners”

Read more: http://rman.co.uk/view-article.php?id=801838951