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Record number of first-time buyers in 2021

Record number of first-time buyers in 2021

There were a record number of people buying their first property last year, according to Halifax, despite rising house prices and falling affordability. Figures from the lender show that more than 400,000 people were first-time buyers in 2021, up 35% from the previous year. That rate dropped by 13% in 2020, when the number of Halifax buyers was about 300,000. The biggest increase was in Greater London where there was a 49% rise in first-time buyers; the lowest was in Scotland at 24%. Esther Dijkstra, mortgage director at the bank, said: "It's clear that the stamp duty holiday increased the availability of first-rung homes as others moved up the ladder. In 2021 the increase in average house price, combined with difficulties in raising a deposit, meant that the gap between purchase price and deposit widened in every region."

Read more: BBC News


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