Majority of first-time buyers in Shropshire have families

First-time buyers – responsible for more than half of the UK’s new residential mortgages issued in the first quarter of 2018 – are also still a large buying group in Shropshire.

However, when compared to 20 years ago, when the average first-time buyer would be a single person, or a couple looking for their first step onto the property ladder, many first-time buyers today already have children by the time they buy their first home.

Property experts say the increased cost and extended time needed to save for a deposit has a lot to do with the shift in profile.

Spectrum

A recent survey between Savills and the National House Building Council found almost a third of first-time buyers in the UK were looking for three-bedroomed homes to accommodate their family.

Offering a wide selection of housing types within Shropshire, many new home developers have looked to cater for the complete spectrum of housing need.

Judy Bourne, director at Monks Estate & Lettings Agency in Shrewsbury, believes the opportunity to find the ideal first home in the county has never been better. She said: “It probably comes as no surprise to people living within the county, that currently, the choice for that first home has never been wider or on such a volume.

“Understanding the changing market and adapting housing design and price to accommodate this, the new home developers that we work with are offering a more varied selection when it comes to housing design. Increasingly, we are helping people to move from rental properties into their first purchased home, leapfrogging the traditional two-up two-down starter home and straight into a longer-term property that is suitable for a growing family.

“Additionally, schemes such as Help to Buy, are providing much needed assistance for those looking to buy their first home, which is helping many to take that first step onto the housing ladder.”