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First time buyer numbers dip

Jan 19, 2016

According to the latest First-time Buyer Tracker from Your Move & Reeds Rains, last October’s first-time buyer sales experienced a three-month downturn.

First-time buyers completed 28,100 transactions in October, compared to 30,700 three months earlier in July, when the figure marked the highest number of first-time buyer sales since August 2007. The difference in volumes between July and October 2015 represents a drop of 8.5% – or 2,600 fewer completed sales.

First-time buyer completions fared little better when looked at on a monthly or annual basis. Between September and October 2015, the number of people who successfully managed to take their first step onto the ladder fell by 1.7% – or by 500 – from 28,600 to 28,100. Equally, first-time buyer sales fell from 28,900 to 28,100 between October 2014 and October 2015, representing a dip of 2.8%, or 800 transactions.

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