First-time buyers at highest level since 2007

Published on by Jordan Hogan (author)

Homeowners (photo: Jordan Hogan)

The Halifax estimates that over 325,000 people bought their first house or flat last year.

This is a rise of 22% compared to 2013 and the highest since 2007.

Government schemes like Help to buy and cheap mortgage rates seem to be the main reason behind the rise.

The Halifax have also said the average size of deposit has fallen by 7% during the year.

Around 80% of those taking advantage of the Help to Buy scheme are buying their first property.

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