First-time buyers hit seven year high

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First-time buyer sales have climbed to their highest since the economic recession, according to new figures.

July saw the number of first-time home buyers reach 30,000, which is the highest since August 2007 and a quarter more than 24,100 a year before.

The data also revealed that the average first-time buyer deposit fell ten per cent year-on-year from £29,609 twelve months ago to £26,642 in June 2014 – a drop of almost £3,000 in a year, which means the average deposit as a proportion of income has also fallen.

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