3 January 2013

A recent survey from Halifax has demonstrated that there were roughly 12% more first time buyers in 2012, showing a marked increase of 193,000 since 2011. This is the largest annual total since 2007.


The data also showed that the average price paid by the typical first time buyer in November 2012 was affordable based on the average UK wage using the average house price to earnings ratio.


On average first time buyers paid £139,921 for a property last year showing a 3% increase on 2011. The Telegraph recently reported that approximately 38% of homes purchased by first time buyers cost between £125,000 and £250,000.


Other statistics showed that the average age of a first time buyer is now aged 30, up from aged 29 in 2011 and that the average price paid by a first time buyer is highest in London, over 2.5 times that paid in the North.


@movewithus

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