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First Time Buyers Increase Market Share In June

  17 Aug 2018

When it comes to selling your home, there are many things that you must take care of. It is natural that you will focus on your home and making sure that it is in the best possible condition but to sell your home effectively, you should also focus on the buyers. This is an area that Jezzards can assist with, so don’t worry if you haven’t remained up to date with the buyers’ market; but you’ll find that it is a hugely important market to homeowners looking to sell their property.

On a very basic level, it stands to reason that the more buyers there are, the better it is for homeowners looking to sell their property. This is because if there are more people looking for a home, there is an increased chance of selling your home. This is a strong starting point but of course, homeowners still need to promote and present their property in the best possible manner. Quality will always be more relevant than quantity when it comes to buyers but knowing that there are people looking to buy home develops confidence in the market.

There is also the fact that many people look towards the first-time buyer market for positivity surrounding the property market. When these buyers enter the property market with intent, it increases the pool of buyers, which is of benefit to homeowners, and we are here to assist you take advantage of this.

First-time buyers increased their market share

Therefore, the fact that first-time buyers increased their market share for June of 2018, covering 23.4% of the market, compared to 22.4% of the market in May of 2018, is positive news. This shouldn’t be a surprise though. In recent years, the Government has undertaken many measures to assist first-time buyers step on to the property ladder; and it may be that these measures are now having a positive impact.

Estimates believe that a total of 66,345 mortgages were approved for June of 2018. It would be wrong to assume that every mortgage approved goes on to finance a property deal but again, if you consider the property market to be “a numbers game”, the more potential buyers, the better. While summer is traditionally slower than spring in the property market, there may be reasons why this summer is livelier.

Challenging weather conditions negatively impacted on the property market

The punishing weather conditions of February and March may have delayed the spring bounce that usually occurs, and this means that property sales may be taking place later this year. This is something that many within the industry are hoping for, and there are signs that suggest the market is in a good place at this time of year.

If you are looking to sell your property now or in the near future, contact our dedicated residential sales team today on 03330 433 633 or click here to get your free instant online valuation.


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