I was interested to see Right Moves First Time Buyer forecast for the final quarter of 2012. The report indicated that more than a third (36%) of prospective first time buyers state that finding the deposit is their main concern. 4 out of 5 first time buyers expect to have a deposit of 10% or more showing a growing acceptance of the deposit rules that have become the new norm. Following on from my previous blogs it would be interesting to know how long it takes a first time buyer to raise this kind of deposit. On a more positive note Right Moves forecast predicts that 25% of those who intend to purchase in 2013 will be doing so for the first time. While this is well short of the 40% minimal required for a free moving housing market, I still think this is an increase and a positive step for the housing market as a whole.
I will continue to report on trends.Lindsay Darroch Partner & Head of Property