First-time buyers frozen out of housing market

Sep 28, 2020

Existing homeowners overtake first-time buyers as biggest source of demand in housing market

By Daily Mail City & Finance Reporter

Published: 16:50 EDT, 27 September 2020 | Updated: 16:59 EDT, 27 September 2020

Existing homeowners have overtaken first-time buyers as the biggest source of demand in the housing market. 

Online estate agent Zoopla said the change had resulted from the coronavirus pandemic as younger families had been increasingly shut out by lenders. 

Changing landscape: Zoopla's latest house-price index found demand from homeowners looking to move had risen 48 per cent over the first three months of this year

Changing landscape: Zoopla’s latest house-price index found demand from homeowners looking to move had risen 48 per cent over the first three months of this year

Zoopla’s latest house-price index found demand from homeowners looking to move had risen 48 per cent over the first three months of this year. 

Demand from first-time buyers was up 11 per cent – the first time since 2017 that first-time buyers had not been the biggest driver.

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