Situation For First-Time Buyers Little Better

With the passing of the buy-to-let rush to avoid stamp duty, the pressure on first time buyers may seem to ease at first, suggests the National Association of Estate Agents (NAEA), but in the long term they are no better off without an increase in newbuild housing supply. Sales to first time buyers (FTBs) were up in March and agents expect to see further increases in sales to the group following the buy-to-let stamp duty changes, according to the organisation’s March housing market report. Three in ten (28%) of the total sales made in March were to FTBs, an increase of four percentage points from February. Further, two fifths (39%) of estate agents expect the buy-to-let (BTL) stamp duty reforms to increase availability for FTBs – as BTL investors back away – further boosting sales for the group. Read more on the Housing Excellence website.