Independent Financial Life Planners Bishop's Stortford: First time buyer numbers surprisingly buoyant

Sunday, 17 January 2016

First time buyer numbers surprisingly buoyant

Enable’s IFAs in bishops Stortford can share the frustration of many with the shortage of homes to buy but recently a Halifax survey shows that the number of first time buyers is surprisingly buoyant. They say the “number of first time buyers is estimated to have totalled 310,000 in 2015, virtually unchanged over the past year despite the average price of a first-time home having risen 10 per cent.” The study also says that, “ the 310,000 figure for 2015 was a tiny 0.5 per cent below the 2014 level of 311,700 - it roughly retains the same dramatic growth from the 2011 figure of 193,700.”

The Halifax report maintains that the average price of a property purchased by first time buyers increased by 10 per cent in 2015 from £172,563 to £190,180 and that the average deposit paid by a first timer rose by 13 per cent. First time buyers accounted for 46 per cent of all house purchases made with a mortgage in 2015, the same as in 2014.

The average house price paid by first time buyers in most regions have of course benefited from the stamp duty changes announced in December 2014. If you are looking to find your first home to buy Enables experienced Independent financial advisors can try and help you find the best mortgage for you. It is important to remember that your home may be repossessed if you do not keep up repayments on your mortgage.

Source: Estate Agent Today

Issued by: Enable Independent Financial Life Planners •  25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

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IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

Our job satisfaction comes from using our skills to find workable, affordable and flexible solutions to meet our clients needs. Whether we are planning for known future funding requirements such as house purchase, school fees or income in retirement - or for the unforeseen such as job loss, long-term illness or early death, our independence from any product provider enables us to view the marketplace impartially. Our training permits us to look beyond a product's marketing hype and select on the basis of its fitness for purpose.