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Kate Faulkner has released a summary of First Time Buyer (FTB) market data showing a rise in FTB activity, the bounce post credit crunch and the myths of media reported data.
To see Kate’s full First time buyer price report – April 2017 please Click Here
Kate comments on the data in her report that; “there is a vast difference between the actual data and the reports that are often released by PR companies to campaign and gain footage in the media.
“For example, two complete myths which can be exploded are, firstly, the falls in numbers of first time buyers. When you look at the English Housing Survey data, the biggest year so far in ‘recent first time buyers’ ie the numbers that have bought in the last three years, saw its biggest levels in 2013/14, 2003/4 were similar, but not as high. This is likely to be due to the ‘post recession’ bounce after 50% of first time buyers had rightly left the market during the credit crunch when property prices had fallen so much.”
Kate also shows that despite widespread hysteria for generation rent the average age of a FTB has only gone up from 31.4 in 2003/2004 to 32.4 in 2015/2016.
Click Here to download Kate’s report.
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