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First time buyers aiming higher

Wed 19 Mar 2014

Clydesdale and Yorkshire Banks have revealed from their annual first time buyer survey that three bedroom houses top the wish list with 32% of those surveyed stating that they aim to purchase a three bedroom property. Two bedroom flats proved to be popular at 24% closely followed by two bedroom houses at 22%. 10% of first time buyers said they would be opting for a three bedroom flat and only 7% said they would aim to buy a one bedroom flat. 

The survey also revealed trends within different regions with 63% of Londoners understandably aiming for flats and in Wales 87% surveyed opted for houses.

Andrew Pearce, Retail Director for Clydesdale and Yorkshire Banks, said:“Clydesdale and Yorkshire Banks have been unwavering in their support of first time buyers and we continued to offer both 95% and 90% LTV mortgages while many others withdrew these products.

This research shows that it is still challenging to take the first step onto the property ladder and many are now aiming for a larger property as their first home as they believe this is a good investment for the future.”

"We rented a property through Vincent Shaw for close to 3 years, and can’t recommend enough. Christianne managed our let throughout, we were always given ample warning and flexibility with any work or checks that needed to happen. The online system to manage your tenancy is very handy, and not something I’ve used with other agents. The inspections during and at the end of our tenancy were very fair, and we ultimately felt respected as tenants throughout. This was a breath of fresh air in comparison to other letting agents in the past and contributed to the house feeling very much like home and to us staying in the property for such a long time. Thank you!"
Rebecca