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Hennessy Bowie & Co has been practising in Bishopbriggs for some twenty five years, principally in the areas of domestic conveyancing, commercial conveyancing, commercial leasing, executries and matters relating to care for the elderly,

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2013 sees first time buyers flying onto the ladder

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The number of first time buyers in the first six months of 2013 was 19% higher than in the same period last year, according to the half-year Halifax First Time Buyer Review.

There were an estimated 120,000 first time buyers (FTBs) during January-June 2013, up from 101,000 in the first six months of 2012; the highest total for the first six months of the year since 2007 (181,500). This continues the trend seen last year when there was a 13% increase in the number of FTBs between 2011 and 2012.

FTB numbers also rose by more than the total number of house purchasers, increasing their share of the home purchase market from 40% in the first half of 2012 to 44% in the same period this year. This was the highest proportion since 2000.

Craig McKinlay, Mortgages Director at Halifax, commented:

“The increased availability and reduced pricing of higher loan-to-value mortgages introduced over the past year or so have clearly contributed to the number of first time buyers rising to a six year high. Government schemes, such as New Buy and Help to Buy, are also enabling more first-time buyers to enter the market.”

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For advice on buying your first home, call us on 0141 775 0005 or to make an online enquiry please click here.

Hennessy Bowie & Co has been practising in Bishopbriggs for some twenty five years, principally in the areas of domestic conveyancing, commercial conveyancing, commercial leasing, executries and matters relating to care for the elderly.

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