Blog Post

First-time buyer funding

Gill - Head Gillian Bell Nov 9, 2023, 11:00 AM

The average deposit paid by a first-time buyer was £43,693. Perhaps unsurprisingly, almost two-thirds (63%) were in the top 40% income bracket.

Just over two thirds (68%) of first-time buyers paid less than a 20% deposit, while a fortunate 5% were mortgage-free.

85% reported funding the purchase of their first home with savings, whilst 27% received help from family and friends and 8% used inheritance.

Despite high costs, first-time buyers accounted for 53% of all home moves in Q3, the highest proportion in over a year. With increasing stability and the likelihood of mortgage rates coming down, more first-time buyers may enter the market in the coming months. Source: #Dataloft, English Housing Survey 2021/22, Really Moving

Load more comments
Thank you for the comment! Your comment must be approved first
comment-avatar

"It has always been prompt action on any issue raised and the feedback has been positive."

- Oketokun

"Any issues Peter Anthony have been spot on and Sean as been professional and helpful at all times"

- Ian

"Way better than my experience with other Estate Agents. Highly recommended!"

- Laurence

"Abbey was lovely, really helpful and informative, thank you!"

- Lisa

"Sean is lovely every time he comes round to do an inspection on the house, really polite"

- Charlotte

"Abbey was very good and I felt she understood exactly what I was looking for"

- Alistair

"Abbey Bird at Peter Antony Estate agents has been and still is amazing"

- Sky

"Abbey was a fantastic help"

- Olivia