Published Wednesday, 28 August 2013
First time buyers are on the up in Northern Ireland. (© Pacemaker)
The council of mortgage lenders said this uptake resulted in the largest number of loans advanced to first-time buyers in a single quarter since the end of 2009.
A total of 1,500 loans were advanced to first-time buyers in the second quarter of 2013.
The number of mortgages given across the region increased by a fifth meaning this is the first year-on-year increase in house purchase lending since the start of 2012.
First-time buyers borrowed around £71,000 this quarter compared to £66,250 last quarter.
Properties worth less than £125,000 were most common among first time buyers with 73% compared to the 40% UK average.
This means there is an increase in lending here just a few months after it was announced the housing market was showing signs of stabilisation here.
Almost 90% of chartered surveyors say properties held their values between May and July, while 4% said prices rose and 3% said prices dropped.
Nearly a quarter of those who took part in the Royal Institute of Chartered Surveyors study said they expect the number of house sales to improve over the next three months.
© UTV News