First time buyer market

[kirinm]

I don't trust estate agents to tell the truth or otherwise I'd ask one. Does anyone know whether there is an absence of FTB at the moment? We are putting our place on the market soon but it is a FTB flat (zone 2 London) but no idea if there are any FTB at the moment.

We only had two viewings in 4 weeks, but the second people to view offered and the sale went through. They were both FTB.

Our house is on the market and is a typical first time buyer house (albeit on the pricier side). We've had two viewings in the month we've been on the market, and our estate agent says that FTB aren't really around much at our price point/area at the moment due to rates.

There are always FTB, the trouble with interest rates being so high is that there are likely less people who can afford to buy for the first time right now.

Recently sold my zone 2 London flat and had to take less than I wanted for it, for that reason.

Hopefully rates will drop a little bit but given rents are astronomically high, it surely makes more sense to buy (if you can obviously). Think we are prepared to take a small hit price wise on our flat because we really need more room.

The issue I think is that because of the rates people can't borrow as much to afford the property they want- that was the case with our buyers.

We are looking at the moment and missed out on a house that went to FTBs - they had about 5 other viewings and apparently most were FTBs.

This is in a pricey area in the SE.

Oh and we’ve got some FTBs viewing our house, which is in ‘FTB on the pricier side’ or second time buy territory.

To be fair, some FTB seem to be able to afford £900k houses near us.

It entirely depends where you are- there are lots of mini "markets" within London.