Activity in the property market from First Time Buyers (FTBs) has increased over the past few months.
This is great news for all that own property or wish to as it shows there is confidence in the economy as FTBs are typically cautious buyers.
We think FTB activity has increased because of Government schemes like Help-to-Buy, the low inflation environment and the fact that interest rates are forecast to start rising again in in 2016 so cheap finance is still available.
This is coupled with a market that features lower levels of stock than usual. This can partly be explained by home-owners wishing to improve their current homes rather than buy larger ones as the stamp duty costs are now a bigger consideration than ever before.
Let’s hope 2016 is another year of increasing confidence.