First-time buyers good for the market, says expert
Figures showing the number of first-time buyers entering the UK property market is increasing have been welcomed by an expert.
James Chatt-Collins, assistant director of sales at Metropolitan Home Ownership, explained that the group is needed to sustain the sector.
"We think that first-time buyers are very important," he said, explaining that they typically purchase the homes at the lower end of the scale.
Buy-to-let property investors and others in the housing industry may benefit from the rise in values that increased demand could cause and Mr Chatt-Collins observed that many new homeowners appear to be benefiting from parental support in order to get on to the ladder.
The comments come after the Royal Institutions of Chartered Surveyors revealed a net balance of 28% of members reporting an increase in enquiries from first-time buyers in the last 3 months.
Buy-to-let investors, meanwhile, were also shown to be expressing greater interest.
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