First-time Buyer Market Share Declines
The market share of first-time buyers has fallen by 10.4% from 63.3% in January to 56.7% in August, according to data from Reallymoving.
This decline represents a 6.6 percentage point drop since January, with affordability pressures causing many to delay home purchases.
- Average price paid by first-time buyers fell by 3.1% from £280,610 to £271,784.
- Despite softer pricing, the number of buyers has not increased, indicating significant affordability challenges.
All regions in England and Wales saw a decline in first-time buyer market share, with the South West, Yorkshire & Humber, East of England, and North East experiencing the steepest falls, each down more than nine percentage points.
No specific quotes are available in the provided text.
Author's summary: First-time buyer market share drops 10.4% amid affordability pressures.
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