First time buyers aiming higher

News at 1st Letting & Sales | 20/03/2014

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.”