Figures released in February from the CML report an increase in first-time buyer activity in 2016 of 8% year on year, and a decrease in the volume of buy-to-let lending by 20% year on year
The latest data from Mortgage Advice Bureau has found that as demand slows in the buy-to-let sector there has been a rise in first time buyers buying their first homes.
According to MAB it is too early to tell if this will be an ongoing trend, the price of the average property purchased by first-time buyers fell in January by 2.7%, suggesting there is less competition for the same sort of property with buy-to-let investors.
At the same time, average purchase price of buy-to-let properties purchased has fallen by 12.7% year on year, potentially indicating that there is less demand by this particular sector and suggesting that investors are turning their attention to cheaper priced property areas.
Figures released in February from the CML report an increase in first-time buyer activity in 2016 of 8% year on year, and a decrease in the volume of buy-to-let lending by 20% year on year.
