Number of FTBs overtakes 2007 after busy August

The number of first time buyers in August 2013 outpaced those recorded in August 2007, according to chartered surveyors Connells Survey & Valuation.

There were in total 1% more first time buyers last month than in August 2007 and 40% more than August 2012.

The 2013 data bucked the trend of a typical slowdown in housing activity in August. Over the previous 5 years there has been an average of 4% fewer new buyer valuations in August than July. But in contrast to what has become the norm, this August there were 4% more first time buyer valuations than in July.

Home mover activity also increased, with the number of valuations growing almost as fast as those for first-time buyers, up 3% between July and August. On an annual basis, this puts home mover valuations up almost a third (32%) on August 2012.

Post courtesy of Financial Reporter.