33% of UK homes sold in 2024 were first-time buyer purchases, with 50% in London, driven by high rents and low mortgage rates.
33% of homes sold in UK were purchased by first-time buyers in 2024, reaching a record high. For the first time, half of homes in London were bought by first-time buyers. High rents and low mortgage rates have driven more first-time buyers to enter the property market. This trend could slow down due to higher mortgage rates and limited supply pushing homeownership out of reach for many.
April 01, 2024
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