Light at the end of the tunnel for first time buyers

Published: 27/05/2011

Despite the difficulties faced, from hefty deposits to unwilling sellers, prospective first time buyers are at the highest rate in 12 months, according to the latest report by Rightmove¹. 26.2% of consumers questioned stated their intention to buy their first property within the next 12 months, up from 22.8% in Q4 last year¹.

In the report, which captured the thoughts of over 25,000 consumers, there is a general consensus the housing market is on the road to recovery and, with it, expectations of house price increase. “Those expecting prices to be lower in the next twelve months reduced from 33.3% to 24.8%.”² These predictions are therefore prompting first time buyers to buy ‘sooner rather than later’.

Whilst obstacles remain, there appears to be a common feeling of acceptance regarding these hurdles. First time buyers have realised, despite the promises of D:Ream, things aren’t going to get better any time soon so now is the time to simply run the property gauntlet.

Goldsmith Williams recognise these difficulties and worries and unlike the “deposit-hungry lenders”² are trying to lighten the financial burden for first time buyers with GW First Step.

We’ve knocked 10% off our normal purchase fees*, especially for first time buyers. We’re also offering a free housewarming gift of either £50 in Marks and Spencer or B&Q vouchers so the first timers can feed their newly found love of crockery shopping!

¹Source: Rightmove (May 2011)
²Source: Today’s Conveyancer (May 2011)
*Not inc. VAT and disbursements

Content correct at time of publication