Return of first-time buyers

The proportion of first-time buyers entering the housing market increased for the third month in a row in November, according to the National Association of Estate Agents (NAEA). Figures indicate that 10.4 per cent of all properties sold during the month were bought by first-time buyers, up from 8.3 per cent in August. The NAEA said that traditionally this time of year shows a seasonal downturn in numbers entering the market, which means the full impact of recent interest rate cuts and government announcements helping homeowners would not be felt until next year.