Sales to first-time buyers increased by 4% in March – and more than a third (36%) of estate agents expected sales to first-time buyers to increase further due to less competition for properties.
The supply of homes through National Association of Estate Agents branches rose by 54% in March from February.
There were 54 available properties per branch in March, up from 35 the month before.
Sales to first-time buyers increased by 4% in March – and more than a third (36%) of estate agents expected sales to first-time buyers to increase further due to less competition for properties.
Mark Hayward, managing director, National Association of Estate Agents, said: “The last few months FTB’s have had to compete with landlords for the same properties and those landlords have really pushed hard to complete ahead of the rise in stamp duty.
“Now, in theory things should get easier for FTBs – as we have seen with a slight increase in sales this month - as those seeking to buy to let will tail off.
“However in reality, it’s unlikely in the long term that first-time buyers will notice a huge difference, as prices remain high and housing is in short supply.
“Government needs to significantly increase the number of homes that are being built in this country to really make a difference to those that are struggling to get on the housing ladder.”
