Who is buying?
The number of first-time buyers grew by 35% in 2021, compared to the pandemic year of 2020, despite the ongoing uncertainty.
The number of first-time buyers grew by 35% in 2021, compared to the pandemic year of 2020, despite the ongoing uncertainty.
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).
Source: Dataloft, % of buyers by category
