Estate agents across the city have reported a profound increase in the number of first-time buyers getting on the property market.
According to research by the National Association of Estate Agents (NAEA) the number of sales made to first-time buyers in August fell to the lowest level since July 2014.
This led Mark Hayward, managing director of the trade body, to claim first-time buyers are finding themselves being squeezed out of the market, adding “there simply aren’t enough houses to match demand and we’re reaching crisis point.”
However, Your Move spoke to a number of estate agents in Liverpool and found first-timers are making a comeback in the city.
Dan Pennington, franchise owner at Century 21, says: “We have seen an increase in first-time buyers. I would say this is more due to the better availability of mortgages and lower rates/deposits. I think the current mortgage situation is the main cause of the increase in recent figures”
Louis Anastasiou, managing director of Andrew Louis says government initiatives like Help to Buy are helping.
“Since the introduction of the Help to Buy scheme and low mortgage rates we have seen an increase in first-time buyers coming into the Liverpool property market and we predict that this interest will continue as long as base rate remains low”
Karl Tatler, managing director of Karl Tatler Estate Agents& Lettings, says the market has been particularly buoyant, event during what is traditionally the summer lull.
He says: “The housing market has been really busy throughout the summer and was our strongest quarter three in sales for many years. We’ve seen an increase in activity across all price sectors and with more attractive mortgage products available, coupled with the Help to Buy scheme, we have also seen an increase in first-time buyers registering with us.”
Helen Goodwin, marketing manager of Sutton Kersh, agrees.
She says: “Confidence in the housing market remains exceptionally strong across all areas of the market. First-time buyers can take advantage of favourable mortgage rates and further government proposals appear to underpin buyer confidence”
Last week, speaking at the Conservative Party conference, Prime Minister David Cameron pledged to build 200,000 low-cost starter homes by 2020 for first-time buyers by 2020 in an effort to help the so-called ‘Generation Rent’.
Related posts:
Picton Road development nears completion
Rules to stop Liverpool home buyers being misled are welcomed
Letting agency fees ban ‘could push up rents’ for tenants
Green light expected for more than 600 Bevington Bush homes
Plans in for 160 new Huyton homes
Liverpool property agents Keppie Massie and Berkeley Shaw form ‘powerful alliance’
