Some 27% of people planning to buy a home in the next 12 months will be doing so for the first time – and statistically, most will be graduates.
The proportion is up from 23% a year ago, but is still well below the 40% seen pre-credit crunch, says Rightmove.
Of those intending to become first-time buyers, seven in ten are university educated – 39% have a degree and 30% a postgraduate degree. Most (62%) of prospective first-time buyers are currently living with their parents.
The Rightmove research suggests that graduates are the most likely to have a larger deposit, and more likely to have parental assistance to help them buy.
Regardless of education, the biggest concern for all first-time buyers was raising the deposit (33%), followed by finding a suitable property (29%).
Rightmove took its data from 18,436 potential home buyers in England, Wales and Scotland in the first two weeks of July.
David Sansome, Managing Director at Sansome & George said: “I believe this research should be seen as a positive sign that both the underlying desire to own one’s own home and the likely reality of achieving it are in the ascendency.
Clearly saving the required level of deposit is the main factor holding first time buyers back from buying but we are seeing a slow but steady increase in enquiry levels and sales to this important sector of the market.”
