Following the end of the Help to Buy scheme, there were concerns that first-time-buyers could be deterred from entering the property market, but recent activity from site visitors here at OnTheMarket shows that interest amongst the demographic remains strong.
Analysis of the leads sent to our agents and developers through our portal so far this year reveals that almost half of all enquiries (41%) were submitted by movers who identified as first-time-buyers.
Despite the macro-economic headwinds the market has faced in recent months, consumer behaviour suggests that first-time-buyers are still actively looking for properties and expressing serious interest getting on the property ladder. With a large proportion of leads still coming from potential new entrants to the UK housing market, this activity shows great appetite among first-time-buyers and is a reassuring sign for the market.
Interestingly, in addition, our insights also showed that 11% of leads that have been sent via our portal so far this year have come from individuals identifying as investors.
Overall, current mover insights suggest the market is in reassuringly good health when it comes to first-time-buyer activity as the industry adjusts to its “new normal”, which appears to look a lot like the old one before the effects of the pandemic and fallout from last autumn’s mini-Budget came into play.
*Stats included in this piece refer to leads that have been sent by users of OnTheMarket who have disclosed their position in the market and are not representative of all site visitors
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