2024 First Time Buyer Trends – What’s Changed?

First time buyers remain a crucial force in the London market – yet their behaviour has shifted significantly post Covid and amidst higher interest rates.

Buyers are now favouring new build flats with energy efficiency, security and minimal maintenance. Zones 3 and 4 have grown in popularity – with key hotspots including Colindale, Woolwich, Southall and Barking.

Government schemes like Shared Ownership and Deposit Unlock continue to drive interest – but rising service charges and ground rents have created hesitancy in some developments.

Ernest-Brooks International works closely with developers to shape first time buyer offerings – ensuring affordability without sacrificing quality. Our sales team is seeing younger buyers prioritise commuting time, EPC ratings and future resale prospects more than before.

For developers and vendors targeting this group – clarity on costs, realistic pricing and strong presentation will be essential. The first time buyer market is still active – but more informed and value focused than ever before.