The number of first buyers who went to the real estate ladder increased by 19% in 2024 compared to 2023, according to new data from Halifax.
The mortgage provider said that those who buy their first home are depositing an average down payment of £ 61,090, with the typical costs of a first buyer ownership £ 311,034.
In the meantime, Halifax’s details have shown that the average age for first buyers has increased by two years in the past decade, where people usually reach a homeowner at 33.
And it seems that the majority of people buy their first home in pairs with 62% of the mortgage rounds with two names or more on the documents.
The data also provides evidence that despite challenges, more first buyers find ways to get to the real estate ladder.
Earlier this month analysis of the comparison site, really elevated, unveiled one Spike in first buyers In the past three months, an increase was attributed to the threatening deadline for stamp rights.
Amanda Bryden, head of mortgages at Halifax, said that there were also other factors involved. She said: “This probably reflects an improvement in the affordability of the mortgage, as the interest rates are relaxed and stabilized, giving more certainty for those who step the ladder.
“Many still work together to make the figures work, with the most owner -occupied homes together.
“This makes sense from the average deposit of £ 61,090 and an average starting price of starters of £ 311,034, which can be a piece for people with a single income. It is not surprising that the average first buyer is now 33 years old, the oldest in the past two decades.
“Despite the challenges of saving for a deposit and rising house prices and an increase of 8% in 2024, it will still be good for more than half of all new mortgages, the greatest majority ever included.”
Halifax also looked at which areas of the UK were the most affordable and found the north, including locations such as County Durham or Burnley, offered more value.
Bryden said: “Although the trip to the homeowner can look daunting, there are many Tools and schedules available To help, such as mortgage products that are tailored to those who buy a first home, or shared property can also be a route to step on the property ladder at lower costs.
“The best first step is to talk to a mortgage adviser or broker. By understanding what you need to save and what is affordable, you can turn the dream to possess a house in reality. “