First Time House Buyers Rose

[nicebloke1]

First time house buyers rose by a fifth in 2024. Get those houses built KS, buyers waiting. It appears first time buyers can afford their own homes.

[ToraToraTora]

link? I've been told that they are all paying to much burton to buy there own drum.

[ToraToraTora]

their!

[davebro3]

There has been a rush to buy because the Stamp Duty "holiday" is about to be ended by St Rachel.

[Old_Geezer]

I'm surs we're all aware of the cause.

[nicebloke1]

The houses KS is building are mainly first time buyer homes. Stamp duty first time buyers SD threshold  knowwhere near.

[naomi24]

He's not building them yet though.  2029 has been mentioned - just as another General Election is scheduled.  Funny that - but I bet you'll grab the carrot when it's dangled again.

[davebro3]

The SD threshold will be £125k. If you can find me a new build house cheaper than that I'll go to the foot of our stairs!

[davebro3]

hm £300k for 1st timers

[nicebloke1]

First time buyers still buying homes now. KS getting more irons in the fire now. Whats not to like?

[fender62]

300k pipe dream for people on minimum wage even with two earners in a household, going to be a lot of them, few million? let alone all the new irregular migrants, just more on the heap of for the benefits system.

[nicebloke1]

First time house buyers UP. by a 5th. Simple as that, fact.

[webbo3]

Is there a link?

[newmodarmy]

From the report by Halifax

"The bank said 2024 saw 341,068 people buy their first properties, up by 19% from 2023.  While the figures are a rebound from 2023's 22% drop, they are not as high as they were in 2022."

I'm not sure if it's just Halifax customers in the survey but it's still below 2022 levels. Falling interest rates (which is happening across the world not just here) have helped.

[newmodarmy]

It's gone quiet on this one.

[ladybirder]

They won't all be buying houses though surely.  A flat will be fine for many.

[davebro3]

Returning to this re 1st timers not able to afford pricier houses.

The holiday from stamp duty must mean that people already in the chain are more likely to move up to a more expensive home thus freeing up the cheaper one for 1st timers.

Once SD is re-imposed there will be less incentive to move and fewer existing homes become available at the bottom end of the market. First time buyers will struggle - thanks Rachel.

[nicebloke1]

Plenty of first time buyers already buying, up by a fifth, more first time houses in the pipeline to be built well done labour.

[davebro3]

I hope you're right NB - can't wait to see these affordable new builds...

[naomi24]

Don't hold your breath, dave.