You would think the number of first time buyers would decrease following the economic downturn. We are all wrong. It seems that first time buyers now account for a little more than 20 percent of all new mortgage deals.

The John Charcoal index, the broker's monthly average activity monitor showed a massive increase in the number of first time buyers entering the mortgage market in the last four months. This makes it almost three times higher than the first three months of 2009.

What is surprising is that these buyers have had to come up with 25% of cash deposits to get access to a wide array of mortgage options. Especially in the current market the figures seem surprising.

When first time buyers start emerging the signs look rather promising for the property market. It shows buyers are starting to have confidence in property prices. It also makes for easy pickings in a market where prices have lowered to less than 60% of their original value from last year.

The time to invest isn't far from now. Whilst property prices may fall in some areas they are falling at a much lower rate. The bottom is quite near and investors should only see an appreciation in their property values in the near future.

To get in on the current property market, give Clear property investment a call and book your Buy to let investment consultation today!

 

View other news from May 2009