Research from Halifax has revealed that during the first six months of 2013 there has been a 19% increase in the number of first time buyers getting a foot on the property ladder compared to the same period last year.
Housladder.co.uk reported that there were 120,000 first time buyers in the first six months of this year, which is a significant climb from the 101,000 recorded in the same period of 2012. This is the highest number of first time buyers since the same period in 2007 when 181,500 were reported.
Craig McKinlay, Mortgages Director at Halifax, said: "The increased availability and reduced pricing of higher loan-to-value mortgages introduced over the past year or so have clearly contributed to the number of first time buyers rising to a six year high. Government schemes, such as New Buy and Help to Buy, are also enabling more first time buyers to enter the market”.