First-time buyers take record market share in January: Twenty7tec

The first-time buyer market started 2025 on a strong footing, with mortgage searches up 91.44% on the prior month, according to data from Twenty7tec.

This figure remains 10.44% down compared to January 2024, but is the busiest month for first-time buyers since February 2024.

Overall, January 2025 was the sixth busiest month ever for mortgage search activity by first-time buyers.

January was also the tenth highest-ever month for first-time buyers as a proportion of the total mortgage search market at 19.53%, compared to an all-time high of 22.51% in April 2021 when stamp duty holidays were extended.

January also saw Twenty7tec create 109,551 ESIS documents for first-time buyers, the fourth highest month on record.

In January, first-time buyers represented 25% of the total ESIS documents created, the highest proportion of the market since Twenty7tec began reporting (the long-term average is 19.5%).

In addition, first-time buyers represented 51.40% of the 90-100% LTV mortgage market in January - the highest proportion ever in that market.

Nathan Reilly, director at Twenty7tec, commented: “The year is off to a great start for first-time buyers, with mortgage searches up 91.44% on the prior month, making January the busiest month since February 2024 and the sixth-busiest month ever for first-time buyer mortgage search activity. 

“Despite this, it's important to note that although the month-on-month reporting is positive, mortgage searches by first-time buyers are still 10.44% down year-on-year compared to January 2023, reflecting ongoing affordability challenges and shifting market conditions. In other words, it’s good, but it has been better.

“However there's still some cause for celebration, with first-time buyers creating a record month for market share in January, accounting for 25% of all ESIS (European Standardised Information Sheet) documents created - the highest proportion since reporting began. Additionally, in the high-LTV, 90-100% mortgage market, first-time buyers made up 51.40% of activity, the highest share ever recorded on our systems.

“January 2025 saw 109,551 ESIS documents created for first-time buyers - the fourth-highest month on record.”