Research published by Halifax has shown that the average UK first time buyer’s purchase price has risen by 9% to £231455.00 I 2019. The average deposit increased by 7% to £46187.00. The biggest growth was in the North West and Yorkshire which means higher prices for First Time Buyers in Leeds. The average property price in Leeds and Yorkshire for last year was £156,242.00 with an average deposit of around £27,598.00.
The number of first-time buyers has remained similar to previous years with first-time buyers making up half of all homes purchased in the UK. This is giving confidence to the property market and the number of first-time buyers purchasing their first property remains stable. First-time Buyers continue to have the benefit of incentives such as Help to Buy Schemes, receiving a gifted deposit from family members and continued low-interest rates.
Lets Move Conveyancing are specialists in dealing with Property Transactions not just in Leeds but throughout the whole of England Wales and can offer advice to First-Time buyers looking to make their first move onto the property ladder.