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
PROMOTED VIDEO
Arts and Entertainment
This weekend's 'Big Hero 6' by Disney Animation Studios
arts + ents
News
i100
News
Budapest, 1989. Sleepware and panties.
newsDavid Hlynsky's images of Soviet Union shop windows shine a light on our consumerist culture
Arts and Entertainment
Eleanor Catton has hit back after being accused of 'treachery' for criticising the government.
books
News
In humans, the ability to regulate the expression of genes through thoughts alone could open up an entirely new avenue for medicine.
science
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: Transport Administrator / Planner

£20000 - £35000 per annum: Recruitment Genius: This fast growing reinforcing s...

Austen Lloyd: Corporate Tax Associate - London

Excellent Package: Austen Lloyd: CITY - HIGHEST QUALITY INTERNATIONAL FIRM - A...

Austen Lloyd: Senior Law Costs - London City

Excellent Package: Austen Lloyd: CITY - EXCELLENT FIRM - We have an outstandin...

Austen Lloyd: In-House Solicitor / Company Secretary - London

Excellent Package: Austen Lloyd: IN-HOUSE - NATIONAL CHARITY - An exciting and...

Day In a Page

Isis hostage crisis: The prisoner swap has only one purpose for the militants - recognition its Islamic State exists and that foreign nations acknowledge its power

Isis hostage crisis

The prisoner swap has only one purpose for the militants - recognition its Islamic State exists and that foreign nations acknowledge its power, says Robert Fisk
Missing salvage expert who found $50m of sunken treasure before disappearing, tracked down at last

The runaway buccaneers and the ship full of gold

Salvage expert Tommy Thompson found sunken treasure worth millions. Then he vanished... until now
Homeless Veterans appeal: ‘If you’re hard on the world you are hard on yourself’

Homeless Veterans appeal: ‘If you’re hard on the world you are hard on yourself’

Maverick artist Grayson Perry backs our campaign
Assisted Dying Bill: I want to be able to decide about my own death - I want to have control of my life

Assisted Dying Bill: 'I want control of my life'

This week the Assisted Dying Bill is debated in the Lords. Virginia Ironside, who has already made plans for her own self-deliverance, argues that it's time we allowed people a humane, compassionate death
Move over, kale - cabbage is the new rising star

Cabbage is king again

Sophie Morris banishes thoughts of soggy school dinners and turns over a new leaf
11 best winter skin treats

Give your moisturiser a helping hand: 11 best winter skin treats

Get an extra boost of nourishment from one of these hard-working products
Paul Scholes column: The more Jose Mourinho attempts to influence match officials, the more they are likely to ignore him

Paul Scholes column

The more Jose Mourinho attempts to influence match officials, the more they are likely to ignore him
Frank Warren column: No cigar, but pots of money: here come the Cubans

Frank Warren's Ringside

No cigar, but pots of money: here come the Cubans
Isis hostage crisis: Militant group stands strong as its numerous enemies fail to find a common plan to defeat it

Isis stands strong as its numerous enemies fail to find a common plan to defeat it

The jihadis are being squeezed militarily and economically, but there is no sign of an implosion, says Patrick Cockburn
Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action

Virtual reality: Seeing is believing

Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action
Homeless Veterans appeal: MP says Coalition ‘not doing enough’

Homeless Veterans appeal

MP says Coalition ‘not doing enough’ to help
Larry David, Steve Coogan and other comedians share stories of depression in new documentary

Comedians share stories of depression

The director of the new documentary, Kevin Pollak, tells Jessica Barrett how he got them to talk
Has The Archers lost the plot with it's spicy storylines?

Has The Archers lost the plot?

A growing number of listeners are voicing their discontent over the rural soap's spicy storylines; so loudly that even the BBC's director-general seems worried, says Simon Kelner
English Heritage adds 14 post-war office buildings to its protected lists

14 office buildings added to protected lists

Christopher Beanland explores the underrated appeal of these palaces of pen-pushing
Human skull discovery in Israel proves humans lived side-by-side with Neanderthals

Human skull discovery in Israel proves humans lived side-by-side with Neanderthals

Scientists unearthed the cranial fragments from Manot Cave in West Galilee