FIRST-TIME BUYERS AT HIGHEST LEVEL SINCE FEBRUARY
1 year ago
This is the highest level since February this year and perhaps suggests that first timers are willing to dip their toe into the market again after sensibly putting any plans on hold pending the outcome of the election and subsequent emergency budget.
“However, one month doth not make a trend, so John Charcol is wary in drawing too many conclusions from this figure. That said, it will be interesting to see over the coming months if the trend does continue.”
The survey also showed that purchase mortgages at highest levels for years
More than 6 in 10 mortgages in July were for purchases, according to John Charcol, and initial signs reveal August will be even higher.
For the first time in what we believe is decades, the proportion of mortgages for purchases broke the 60% barrier in July, revealing a certain confidence in the future of the market.There is much talk of a double dip and a large correction in the housing market still to come, but these figures would certainly go some way towards questioning this theory.