First time buyers at highest level since 2007
Posted on Thursday, 8 January, 2015
The number of first-time buyers in 2014 rose to its highest level in seven years, according to one of the UK’s largest lenders. The Halifax estimates that 326,500 people bought their first house or flat last year – a rise of 22% compared to 2013. That was the highest total since 2007, at the start of the financial crisis. The main reason was cheap mortgage rates, and government schemes like Help to Buy, which require small deposits. Better job prospects may also have helped.