Figures show that the monthly sales across the UK for first time buyers has hit the highest levels since the recession last month, this is according to leading estate agents.

Within July nearly 30,000 first time buyer sales across the country were completed, with just over 3,000 of them being in Wales.

Figures show that last month 29,700 first time buyers completed property deals across Wales,England,Scotland and Northern Ireland. This was the highest since August 2007, before the financial crisis struck , when 35,300 were sold.

The figures for this month also represent a 28% rise on April 2015’s figures. This amounting to a 6,500 increase over the last three months.

Adrian Gill,Director of Estate Agents, You move and Reed Rains said, ” First-time buyers are experiencing a summer of white-hot activity. The post-General Election bounce has given way to a more stable optimism, as first-time buyers realise that the property market – at least their end of it – is at no immediate risk of being tampered with by the Government. Rather, incentives attractive to first-time buyers – such as the Help to Buy scheme – are running along steadily, while further low-cost housing development is being encouraged to entice more people onto the ladder “

This news comes despite the rising immediate costs of buying a home. The average first- time buyer deposit in july totaled £27,975, this making a healthy increase of 10% on July 2014’s figures.

 

 

Source: http://www.itv.com/news/wales/2015-08-28/monthly-first-time-buyer-sales-reach-highest-levels-since-recession/   28/08/2015