Why those first steps are cru­cial

For as­pir­ing first­time buy­ers plan­ning on get­ting on the hous­ing lad­der,

Kent Messenger Maidstone - West Kent Property - - FRONT PAGE -

First-time buy­ers may get a much­needed win­dow of op­por­tu­nity in the com­ing weeks.

With a stamp duty hike hav­ing re­cently been im­posed on buy-to­let in­vestors, peo­ple try­ing to get onto the prop­erty lad­der could find they have less com­pe­ti­tion from those snap­ping up in­vest­ment prop­er­ties.

There are also signs that sell­ers are of­fer­ing big­ger dis­counts in the hope of se­cur­ing a sale – which could give first-time buy­ers fur­ther room for ne­go­ti­a­tion.

Ac­cord­ing to Zoopla, the av­er­age prop­erty that’s had its orig­i­nal ask­ing price slashed is now on the mar­ket for over £25,000 less than it was orig­i­nally – an in­crease of nearly £4,000 com­pared with the typ­i­cal dis­count in Jan­uary.

Sarah Beeny, TV pre­sen­ter and owner of es­tate agent, Tepilo, says: “Fol­low­ing a few busy months, where in­vestors tried to beat the stamp duty rise, the prop­erty mar­ket is cur­rently look­ing in­creas­ingly at­trac­tive for first­time buy­ers.

“First-time buy­ers are vi­tal to the health of the prop­erty mar­ket; their first step onto the prop­erty lad­der is cru­cial for those fur­ther up the chain tak­ing their next step.”

Sarah Beeny

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