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Who Is Buying Now?

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Mon 17 Jan 2022

Who Is Buying Now?

WHO IS BUYING NOW?


 
  • The number of first-time buyers grew by 35% in 2021, compared to the pandemic year of 2020, despite the ongoing uncertainty.
  • Close to 60% of agents in the latest Dataloft subscriber poll reported that first-time buyers were the most popular type of buyer at present, over twice as many as those who said second-steppers.
  • Key drivers of demand are falling unemployment, low borrowing costs and an increased number of low deposit mortgage deals.
  • The stamp duty holiday and a drop in expenditure during lockdowns may have boosted deposits for the 60% of first-time buyers who are in the top 40% of incomes (English Housing Survey).