There were a total of 28,800 first-time buyers in March 2019 which is a drop of 2.4% when compared to the year before according to UK Finance. The total number of home-mover mortgages also dropped by 6% to 25,280 in the same period whilst the buy-to let market completed 5,000 new loans (9.1% drop) and people switching mortgage products increased by nearly 4% to 14,400.
So why are these stats important I hear you ask? First-time buyers buy houses from those ready to trade up so without the lifeblood of the housing market entering the market you would expect house prices to possibly decline?
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