Rise in first-time house buyers December 29th, 2012 admin Latest News Shares Comments The number of house purchases by first-time buyers rose 12% in 2012, with about 216,000 people stepping the property ladder, the Halifax reports. Its study says the figure is the highest since 2007, the year before the global economic crisis struck. The Halifax said the rise was due to more mortgages coming on the market and interest rates being lowered. The average age of first-time buyers is now 30, up from 29 a year ago, and a 20% deposit is typically required. A 10% deposit was typical in 2007. The average deposit needed by first-time buyers in the UK in 2012 was £27,984, with the house price averaging £139,921 – up 3% on a year before. The number of mortgages on the market has increased by about a fifth since August, when the government launched a multibillion-pound scheme to kick-start lending to businesses and households. It has also recently launched NewBuy, a scheme to help people purchase new-build homes with a fraction of the usual deposit. Submit News Contact us with your community, business or sport news. Phone 07930717137 Email [email protected] Twitter www.twitter.com/onthespot_news Breaking local news as it happens, searchable archives with photographs, the ability to instantly comment on news articles – there are so many advantages to OTS (Onthespot) News. If you want your news read locally online then send it to [email protected] – relying only on the newspaper is to restrict yourself to an ever reducing audience. Onthespot – your online reporter www.onthespotnews.co.uk Do you have a story to tell? Please text or phone 07930717137 or email [email protected] Follow OTS (Onthespot) on Twitter www.twitter.com/onthespot_news Related Comments comments!