First-Time Buyers Are Returning to Market

The Journal (Newcastle, England), July 7, 2012 | Go to article overview

First-Time Buyers Are Returning to Market


Byline: Ellie House

THE proportion of people planning to take their first step on the property ladder has risen to its highest level in two and a half years, according to a new survey.

The research by Rightmove shows "surprising" determination despite difficult economic times and comes regardless of the ending of a two-year first-time buyer stamp duty concession in March.

Parental help, Government initiatives and steadier pricing could all be contributing factors, say North East property experts.

"The research from Rightmove is certainly encouraging for the resale property market," says Jonathan Parker, manager of Brannen & Partners Tynemouth branch.

"The level of first-time buyer activity has the potential to affect every corner of the market and we are pleased to see growing numbers of first-time buyers registering with us.

"The increase in first-time buyers is good news for those in property chains as it is often the larger properties which can become stuck without first-time buyers to keep the market moving.

"While prices are more accessible for first-time buyers, we are seeing increasing numbers of parents helping to manage the cost involved with buying a home, acting as guarantors or supplying housing deposits.

"This is largely down to the growing disparity between renting and mortgage cost with many first-time buyers realising that as rental values continue to rise, a monthly mortgage is a more affordable long-term option in current market conditions."

The survey of almost 20,000 would-be buyers found 27.9% were hoping to buy for the first time in the next 12 months.

Findings also suggest the number of first-time buyers will move closer to its pre-credit crunch levels of around 40%.

Would-be buyers are also getting younger, with the average age of those planning to buy a property dropping by one year to 31, compared with when the survey was carried out in October 2011.

Dunelm Homes sales director Colin Willetts says: "The first-time buyer market for new-build homes has been getting stronger in recent months.

"This has largely been due to a good selection of properties at more accessible prices and financial support packages. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

First-Time Buyers Are Returning to Market
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.