First time buyers are still in the game
THE number of first-time buyers seeking mortgages remained strong in April 2012 despite the end of the stamp duty holiday in March, according to estate agency Connells.
Connells recorded a 14.5% increase in mortgage sales to first-time buyers in April this year compared to April 2011.
"Despite reports and commentary that first-time buyers have dropped off the map since stamp duty was reinstated for properties over £125,000, we are still seeing higher numbers than we did last year," says Mark Weller, area partner at Connells.
"The race to beat stamp duty exemption certainly helped boost first-time buyer numbers in the first quarter of the year but this should not be overstated as the only reason we saw more activity from this group," he adds.
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Our figures show there are still many first-time buyers out there who want to buy a home even though they now have to pay stamp duty."
In the first four months of 2012, Connells also recorded a 21.7% increase in mortgage sales to those selling their property and moving home compared to the same period last year. Its mortgage sales to all buyers, including first-time buyers, home movers, those remortgaging and buy-to-let investors has increased by almost a third when compared to the first four months in 2011.
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