First time buyers are often seen as the backbone of any housing market. If first time buyer activity weakens, the possibility of struggles for the market are higher during the coming years. This story plays out in the UK housing market as well. As first time buyer activity is strong, so is the future of the market. According to research from UK Finance, first time buyer mortgages obtained during the month of August this year was the highest since June of last year.

Although new tax duty has strapped parts of the buy to let market, heavy growth has placed many properties out of reach for many would be house owners, and lending criteria has gotten tougher in recent years, first time buyers are showing up and buying houses.

During the month of August more than 35,000 first time buyers completed transactions to purchase property across the UK. This is a year on year increase of more than 2%. During the month a total of more than £6.1bn was mortgaged by first timers. For many housing specialists this total was quite a surprise based on the number of challenges first timers face currently, including the uncertainty which comes with Brexit.

First time buyers are in a constant state of pressure to gain access to the property ladder and reach the allusive first rung. Many who are making strides to save enough for a house deposit are also trying to break away from being under the roof of mum and dad. They are typically also trying to navigate the rough waters of affording their own food, car expenses, and possibly even school loan repayments.