Househunter numbers on the rise

Are first time buyers coming back into the market?

New figures from the National Association of Estate Agents (NAEA) show a rise in the number of househunters, reaching an average of 282 per branch in December 2012. This represents a 41 per cent increase since their lowest December levels in 2008, and up 7 per cent on November 2012.

Mark Hayward, President of the NAEA said: “December can typically be a challenging month for the property market, as many buyers abandon their search until the New Year. However, last month’s figures show a healthy December boost, and a substantial gain on the mid-recession low of December 2008. Demand is clearly returning to areas of the market, and agents are seeing more house hunters looking for their ideal home.”

Brendan Cox, Managing Director of Waterfords estate agents said: “Lack of supply has been a definite trend so far this year. We can report a record number of valuations during the first month of 2013 however some consumers are not following through and putting their property on the market. As a result, there remains to be a shortage of stock. We are certainly with the majority of agents who are optimistic that volumes will grow in the next few months as households begin to act upon the news of lending conditions and an overall improved market.”

The NAEA figures also suggest that the percentage of sales made to first time buyers dropped slightly in December, with agents reporting 21 per cent of market share in compared with 22 per cent in November.

However, earlier this month the Council of Mortgage Lenders said their figures showed first time buyers were driving the 6 per cent rise in the number of loans for house purchases. Their report showed that the number of loans taken out by first-time buyers reached the largest monthly total since the end of 2009 (except for March when the end of the stamp duty holiday boosted activity).

A total of 21,700 loans were given to first-time buyers in November 2012, worth £2.7 billion, representing an 8 per cent rise compared to October and up by 24% on November 2011. Moreover, for the second consecutive month, loans to first-time buyers accounted for 41 per cent of all house purchase loans, higher than the usual proportion of around 38 per cent.

Kevin Gibson, Director at Ascot Mortgages said he had noticed a significant increase in applications from first time buyers since the start of the year. believes that “First time buyers are now starting to enter the property market as serious contenders as UK property prices remain subdued, and first time buyers are slowly starting to filter through who have previously found the large deposits required unobtainable.”

Discover more property articles at Homes and Property
Sport
England's women celebrate after their 3rd place play-off win against Germany
Women's World CupFara Williams converts penalty to secure victory and bronze medals
Arts and Entertainment
Ricardo by Edward Sutcliffe, 2014
artPortraits of LA cricketers from notorious suburb go on display
News
newsHillary Clinton comments on viral Humans of New York photo of gay teenager
Arts and Entertainment
The gang rape scene in the Royal Opera’s production of Gioachino Rossini’s Guillaume Tell has caused huge controversy
music
Property search
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Recruitment Genius: Sales Administrator - Spanish Speaking

£17000 - £21000 per annum: Recruitment Genius: This is a fantastic opportunity...

Recruitment Genius: Sales Administrator - German Speaking

£17000 - £23000 per annum: Recruitment Genius: This is a fantastic opportunity...

Recruitment Genius: Sales Administrator - Japanese Speaking

£17000 - £23000 per annum: Recruitment Genius: If you are fluent in Japanese a...

Recruitment Genius: Graphic Designer - Immediate Start

£16000 - £25000 per annum: Recruitment Genius: This is a fantastic opportunity...

Day In a Page

The Greek referendum exposes a gaping hole at the heart of the European Union – its distinct lack of any genuine popular legitimacy

Gaping hole at the heart of the European Union

Treatment of Greece has shown up a lack of genuine legitimacy
Number of young homeless in Britain 'more than three times the official figures'

'Everything changed when I went to the hostel'

Number of young homeless people in Britain is 'more than three times the official figures'
Compton Cricket Club

Compton Cricket Club

Portraits of LA cricketers from notorious suburb to be displayed in London
London now the global money-laundering centre for the drug trade, says crime expert

Wlecome to London, drug money-laundering centre for the world

'Mexico is its heart and London is its head'
The Buddhist temple minutes from Centre Court that helps a winner keep on winning

The Buddhist temple minutes from Centre Court

It helps a winner keep on winning
Is this the future of flying: battery-powered planes made of plastic, and without flight decks?

Is this the future of flying?

Battery-powered planes made of plastic, and without flight decks
Isis are barbarians – but the Caliphate is a dream at the heart of all Muslim traditions

Isis are barbarians

but the Caliphate is an ancient Muslim ideal
The Brink's-Mat curse strikes again: three tons of stolen gold that brought only grief

Curse of Brink's Mat strikes again

Death of John 'Goldfinger' Palmer the latest killing related to 1983 heist
Greece debt crisis: 'The ministers talk to us about miracles' – why Greeks are cynical ahead of the bailout referendum

'The ministers talk to us about miracles'

Why Greeks are cynical ahead of the bailout referendum
Call of the wild: How science is learning to decode the way animals communicate

Call of the wild

How science is learning to decode the way animals communicate
Greece debt crisis: What happened to democracy when it’s a case of 'Vote Yes or else'?

'The economic collapse has happened. What is at risk now is democracy...'

If it doesn’t work in Europe, how is it supposed to work in India or the Middle East, asks Robert Fisk
The science of swearing: What lies behind the use of four-letter words?

The science of swearing

What lies behind the use of four-letter words?
The Real Stories of Migrant Britain: Clive fled from Zimbabwe - now it won't have him back

The Real Stories of Migrant Britain

Clive fled from Zimbabwe - now it won’t have him back
Africa on the menu: Three foodie friends want to popularise dishes from the continent

Africa on the menu

Three foodie friends want to popularise dishes from the hot new continent
Donna Karan is stepping down after 30 years - so who will fill the DKNY creator's boots?

Who will fill Donna Karan's boots?

The designer is stepping down as Chief Designer of DKNY after 30 years. Alexander Fury looks back at the career of 'America's Chanel'