Only 25% of UK Home Buyers Are First-time Buyers

The latest research carried out by Rightmove, UK-based property portal, showed that first-time buyers account for less than 25% of all home buyers in the UK. In some regions of the country their proportion is 20% or less.

According to property experts at Rightmove, these figures are half the normal level, which usually stands at 45-50%.

Most first-time buyers questioned said that their problem was to actually get a mortgage. The second most popular answer (44%) was difficulties in raising a mortgage deposit. Further 10% of UK first-time buyers said that they find it hard to meet monthly mortgage payments.

Commenting on the findings, Mr. Shipside of Rightmove, said that "the desirable level of first-time buyers for a healthy market is typically around 40% of all buyers, almost double the current level, as they perform a vital function in completing chains and aiding fluidity throughout the housing ladder."

The results of the research by Rightmove are certain to be discussed today, on February 15th, as Grant Shapps, UK Housing Minister, holds emergency summit.

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