The saving drive continues and confidence is returning to first time buyers

April 5, 2021

 

  • Savings levels amongst first time buyers continue to rise in the third
    lockdown
  •  Average saved amongst those surveyed reached £789 per month
  • First time buyers looking to buy in the next 12 months had fallen away
    in 2020 but is starting to recover in 2021
  • Interest in Help to Buy is renewed following announcement of
    mortgage guarantee scheme

 

 

As we pass the anniversary of the first COVID lockdown, we can take stock of the impact on the prospects of first time buyers. In the review of 2020 Life Moments, the digital coaching technology provider to first time buyers, saw the emergence of a “two speed housing market” forming (see data here), as those who were having a “good” lockdown were saving more and bringing forward their home buying plans.

There were however, those who were having a challenging year in 2020, filled with a loss of confidence in the future and putting off their plans to buy for up to three years.

Click here to read the full report