First-time buyer demand remains stable despite affordability pressures

First-time buyer demand has remained 'remarkably resilient' despite ongoing affordability pressures and economic uncertainty, according to the latest data from Twenty7tec.

Analysis of mortgage searches conducted through the Twenty7tec platform shows that advisers carried out more than 1.7 million first-time buyer searches between 1st January and 29th May 2026, only modestly lower than the 1.85 million recorded during the same period in 2025.

At the same time, the average property value searched for by first-time buyers increased from £292,227 in 2025 to £298,055 in 2026, while the average loan size rose from £227,347 to £234,353.

The figures suggest many aspiring homeowners remain committed to entering the property market, even as property values and borrowing requirements continue to rise.

Nathan Reilly, chief customer officer at Twenty7tec, commented: "The data suggests first-time buyers are becoming increasingly pragmatic in their approach to homeownership. With property values continuing to rise, many are reassessing what and where they can afford to buy, while taking a longer-term view of their finances.

"What's notable is that demand has remained relatively stable throughout this period. That points to a market where aspirations haven't changed, even if the route to achieving them may have become more challenging. And in this environment, the value of advice process has never been greater."