FTB sales at eight-month high, says NAEA
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First-time buyers accounted for the highest proportion of property sales in eight months in January, according to data from the National Association of Estate Agents.
First-time buyers made up 23% of all sales last month, up from 21% in December and the highest level since May 2011.
The proportion of sales to first-time buyers has now risen for the third consecutive month, which the NAEA says is down to the fact the Stamp Duty holiday for fist-time buyers is due to end in March.
Wendy Evans-Scott, president of the NAEA, says: “The NAEA and other property specialists campaigned hard for the government to introduce the tax exemption to support first-time buyers, and these latest figures certainly suggest that Stamp Duty is a key factor for those on tight budgets purchasing their first home.
“We are deeply disappointed that ministers have axed this support for a crucial part of the housing market which has benefited so many house-hunters in getting onto the property ladder.”
The NAEA’s figures also show that the number of potential buyers registering at estate agents fell from 294 per branch in December to 260 in January.
Overall sales increased slightly in January, with an average of six per branch compared with five per branch in December.
However, supply levels dipped to their lowest level in 19 months with an average of just 60 properties available to house-hunters in January.
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