Rightmove’s latest First-Time Buyer Report has forecast a marginal rise in prospective first-time buyer levels for the year ahead.
However, it also found evidence of a new hurdle on the path to home-ownership as a lack of choice increases the difficulty in finding a suitable property to buy.
The proportion of buyers who intend to purchase their first home over the next year has edged up to 24.3%, up 1.4% on last quarter and 1.5% year-on-year. However, analysis by Rightmove also finds that the number of new properties advertised for sale in the final quarter of 2011 was significantly down on the third quarter, with, crucially, flats and terraces in short supply. 29% of respondents to the Rightmove survey indicated that ‘finding a suitable property to buy’ was their single biggest concern around buying.
Miles Shipside, director at Rightmove said: “First-time buyer levels remain well below historic norm of 40%