Surge of First-Time Buyers in Scotland

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Move Quick says number of people buying home for the first-time hits five-year high.

The cracking sound you hear this Spring is not eggs hatching – it’s first time buyers smashing through the glass ceiling.

After facing years of difficulty, those purchasing a home for the first time are now experiencing some of the most favourable conditions for purchasing a property.

Interest rates are steady, more cash is being made available by the banks and building societies and lenders are no longer insisting on impossible deposits.

Barry Chuwen of Scottish estate agency Move Quick said the underlying optimism in the market is now being borne out by hard facts.

Said Barry:”The number of people buying their first home in 2012 was the highest we have seen since 2008.

“That meant that 19,000 first-time buyers became home owners during the year – a 13 per cent rise on 2011.

“The total for 2012 was not that far off the 2008 total, when the property market was last at its strongest.

“There’s a whole bunch of reasons for this happening but we are just delighted to see more inquiries from those hoping to get on the property ladder for the first time.

“We are seeing more 90 per cent and 95 per cent mortgages becoming available, which is making things a lot less restrictive for those buying their first home.

“There is also a really good choice of properties available for under £100,000.”

With first-time buyers hitting a five-year high, Barry Chuwen expects the whole market to get a lift.

He added:”Movement in the first-time buyer market is bound to give a stimulus to all property sales.

“It is vital to get new owners onto the property ladder because while they may be buying a small flat today, they could be chasing a semi in five years time.

“Sellers also understand there is new confidence in the market and they are keen to price their own home accordingly.”

Move Quick is celebrating its first anniversary this Spring. In just 12 months, the company has sold almost 200 homes, from starter flats to country mansions.

Said Barry:”It has been a brilliant year but we are confident that with hard work, we will improve on that total in the next 12 months.

“As we don’t charge any up-front fees and can defer the cost of Home Reports, clients can get to the market without paying any fees at all.”

Move Quick is a dynamic property company, providing bespoke house selling solutions throughout Scotland.

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Move Quick
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