A bounce in First Time Buyers

The National Association of Estate Agents (NAEA) Housing Market Report for October 2016 shows a 'bounce back' in sales to First Time Buyers.

Their October data shows -

• A third (32%) of sales were made to FTBs.( the highest on record )
• Supply of homes on the market increased to the highest level since March 16.
• Demand for housing also rose in October
• Sales averaged - 9 per branch.
• Properties for sale averaged - 43 per branch.
• Registered buyers per branch increased to 440.

NAEA's Mark Hayward, comments : 

“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 FTBs fall. After shrugging off the uncertainty, we have seen an increase in supply and a rise in the number of sales to FTBs this month – proof the market is beginning to bounce back.

“Clearly what we need now though is a clear plan as to how the Government is going to tackle the chronic shortage of homes that we are facing. During the Autumn Statement, the Chancellor announced a boost to house-building which is a start but sadly nowhere near enough. We have high hopes for the Housing White Paper as this will set the housing strategy and intent for this Government going forward.”

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