Research from the property portal, Zoopla, has found that first-time buyers are set to make up a smaller proportion of homebuyers than movers, reversing a trend that has lasted for more than a year.<\/p>\n\n\n\n\n\n\n\n
The research has found that stricter lending criteria has limited the options of first-time buyers by requiring larger deposits and evidence of secure employment.<\/p>\n\n\n\n
In contrast, people already on the property ladder seem to be more motivated to move as a consequence of reassessing their living arrangements during lockdown.<\/p>\n\n\n\n
Gardens, space and living close to family have risen up the list of movers\u2019 priorities this year, according to the research.<\/p>\n\n\n\n
Richard Donnell, Research and Insight Director at Zoopla, said: \u201cFirst-time buyers have been a driving force of housing sales over the last decade.<\/p>\n\n\n\n
\u201cThey remain a key buyer group but lower availability of higher loan to value mortgages and increased movement by existing homeowners means a shift in the mix of homebuyers in 2021.\u201d<\/p>\n\n\n\n