First-time buyers see hope in property market

Research from the Building Societies Association reveals that the proportion of first-time buyers believing it is a good time to purchase property has doubled in the past year, rising to a third from 16% in December 2023. Despite upcoming increases in stamp duty costs, with the "nil rate" band for first-time buyers decreasing from £425,000 to £300,000 in April, affordability of monthly mortgage payments and deposit requirements remain the primary concerns for these buyers. The BSA's findings highlight a growing optimism among first-time buyers in the current market.

The Daily Telegraph (05/02/2025)   The Independent (05/02/2025)   The Standard (05/02/2025)