12
Feb
CML reports record number of first-time buyers in December
Figures released by the Council of Mortgage Lenders (CML) have
revealed that house purchases by first-time buyers reached a
two-year high in December.
According to the organisation, the number of loans agreed for
people taking their first step on the property ladder increased by
26 per cent in the final month of 2009, compared with
November.
More than half (55 per cent) of the mortgages were arranged for
purchases of homes costing less than £175,000 - the higher
stamp duty threshold which expired on December 31st.
Overall, the CML reported that the number of properties bought in
the £125,000 to £175,000 bracket was up by 63 per cent
for first-time buyers and by 49 per cent among other
homeowners.
Peter Bolton-King, chief executive of the National Association of
Estate Agents, said that the data demonstrates that the government
should take steps to reform the tax.
"Making Britain's most unpopular tax fairer and more manageable
should be a primary goal for the government both now and after the
general election," he stated.