25% of advisors see increased FTB activity for 2012

A total of 2,008 intermediaries answered the question: "Do you expect First-Time Buyers to be a larger share of your business placed in 2012?"

The results were as follows:

- No:  52.61%

- Yes:  24.78%

- About the same: 22.61%

Richard Tugwell, Head of Intermediary Sales at Virgin Money, said:

"Although just over 50% of respondents to the survey thought that the FTB sector would not be a growing part of their business, it is telling that nearly 25% did think 2012 would see more FTB activity. Clearly, while there is continued economic uncertainty, many potential FTBs are likely to wait to see how the year pans out.

"However, with reports that rental prices in many areas are rising, the value of buying a first property will increase, particularly as the opportunity to lock in to attractive fixed rate mortgages makes owning a property that much more appealing."

Millie Dyson, Editor of myintroducer.com, said:

“As lenders are launching more first-time buyer initiatives we should naturally see an increase in first time buyer activity. However, with stamp duty relief ending in March and constant reports of rising house prices there will no doubt still be several obstacles to overcome in the coming year.

"2012, although still potentially a difficult year for first-time-buyers, should see more entering the market. Though there is still a long way to go before we see the light at the end of that tunnel, or in this case, the top of the ladder.”

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