First-time buyers nearly overtake home-movers First-time buyers have come close in March to overtaking the level of home movers for the first time in 20 years, according to the CML.
With current mortgage rates at historically low levels, first-time buyers are seen to be driving market activity, as other parts of the market appear to weaken. Historically, house purchase approvals have averaged 68,000 a month over the last five months, but the MPC are anticipating average monthly house purchase approvals reaching 71,000 a month for the next six months.
There have been 342,000 first-time buyers over the last rolling 12-month period, the highest figure seen for nine years.
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