The average loan-to-value (LTV) ratio for first-time buyers (FTBs) remained relatively stable from 2017 to 2023. In 2017, the LTV stood at 79.7 percent, meaning that the average first-time buyer mortgage loan amounted to almost 80 percent of the total house price. The highest LTV ratio was observed in 2020 at 81.9 percent, followed by a decline in the following years to approximately 80.2 percent in 2022 and 80.3 percent in 2023. Meanwhile, loans to second and subsequent borrowers had a notably lower LTV ratio.

The first-time buyer average mortgage increased across all regions in the United Kingdom in 2023. London had the largest average mortgage size at over 383,386 British pounds. This was because it was also the region with the most expensive hosing.

The average loan term for first-time buyers (FTBs) in Ireland increased slightly between 2017 and 2023. In 2017, the average loan term stood at 29.1 years, and in 2023, it increased to 29.27 years. Meanwhile, the average term of mortgages to second and subsequent borrowers was notably shorter.

The average mortgage loan amount for first-time buyers (FTBs) in Ireland increased by more than 16,000 euros in 2023. Since 2017, the average loan size has increased year-on-year. In 2023, Irish first-time homebuyers took out mortgage loans averaging 285,000 euros. In 2017, that figure stood out at about 211,000 euros. Meanwhile, second and subsequent buyers took out much larger loans, on average.

Mortgage Rate: Average: First Time Buyer: Gansu: Lanzhou data was reported at 5.280 % pa in Jun 2021. This records an increase from the previous number of 5.260 % pa for May 2021. Mortgage Rate: Average: First Time Buyer: Gansu: Lanzhou data is updated monthly, averaging 5.260 % pa from Apr 2021 (Median) to Jun 2021, with 3 observations. The data reached an all-time high of 5.280 % pa in Jun 2021 and a record low of 5.260 % pa in May 2021. Mortgage Rate: Average: First Time Buyer: Gansu: Lanzhou data remains active status in CEIC and is reported by Rong 360 BigData Research Institute. The data is categorized under China Premium Database’s Money Market, Interest Rate, Yield and Exchange Rate – Table CN.MA: Rediscount and Lending Rate: Mortgage. contact us
联系我们

The average age of first-time buyers (FTBs) in Ireland increased by 1.4 years between 2017 and 2023. In 2017, the average age of first-time homebuyers was 33.9 years. In 2023, the average homebuyer was 35.3 years old. During the same period, the age of second and subsequent borrowers experienced slightly less variation.

This dataset contains quarterly median loan to value ratios for first time buyers in England.

This dataset contains quarterly median loan to value ratios for first time buyers in England. The data is owned by the Council of Mortgage Lenders (CML) and permission has been given to publish to ODC.

For the past decade, buying a home in the UK has been more affordable than renting one, when only considering the monthly costs. The renting versus buying gap fluctuated during the period and in 2016, it reached its highest value of 131 British pounds. In 2023, the monthly costs for a first-time buyer were 1,231 British pounds, compared to 1,258 British pounds for renters. Rental growth vs house price growth Housing costs in the UK have been on an uprise, with both renting and buying a home increasingly unreachable. Though the monthly costs of buying have consistently been lower in the past decade, house price growth has been much stronger than rental growth since the beginning of the pandemic. Additionally, buyers have been affected by the aggressive mortgage rate hikes, making acquiring their first home even less affordable. Barriers to homeownership Buying a home is not straightforward. For younger (18-40) potential first-time buyers, there are a number of barriers. Approximately one in three first-time buyers point out that raising a deposit was the main obstacle. Other reasons stopping buyers were not being able to take out a mortgage on their current income and poor credit ratings. Unsurprisingly, the highest share of people who buy a home with a mortgage was in the age group of 45 to 55-year-olds.

The vast majority of mortgages for first-time homebuyers in Ireland in 2023 had a fixed rate. The share of loans with a variable interest rate was approximately nine percent in that year - a substantial decrease from 2017, when about one in three loans had a variable interest rate. Meanwhile, second and subsequent borrowers had a slightly lower share of fixed interest rate mortgages.

The U.S. mortgage market has declined notably since 2020 and 2021, mostly due to the effect of higher borrowing costs on refinance mortgages. The value of refinancing mortgage originations, amounted to 86 billion U.S. dollars in the first quarter of 2024, down from a peak of 851 billion U.S. dollars in the fourth quarter of 2020. The value of mortgage loans for the purchase of a property recorded milder fluctuations, with a value of 291 billion U.S. dollars in the first quarter of 2024, and a market peak of 477 billion U.S. dollars in the first quarter of 2022. According to the forecast, mortgage lending is expected to slightly increase until the end of 2025. The cost of mortgage borrowing in the U.S. Mortgage interest rates in the U.S. rose dramatically in 2022 and continued to increase in 2023. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under three percent, whereas in 2023, the average rate for the same mortgage type exceeded seven percent. That has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market. The effect of a slower housing market on property prices and rents According to the S&P/Case Shiller U.S. National Home Price Index, housing prices experienced a slight correction in early 2023, as property transactions declined. Nevertheless, the index continued to grow in the following months. On the other hand, residential rents have increased steadily since 2000.

Most mortgages for recent first-time buyers in England had a loan term of over 30 years in 2024. Nevertheless, the share of mortgages with a loan duration of over 30 years decreased from 55.5 percent in 2022 to 54.5 percent in 2024. Additionally, mortgages with a shorter duration of up to 19 years became slightly more common.

Help to Buy - Wales is a £170 million shared equity loan scheme designed to support home ownership, stimulate building activity and provide a boost to the housing sector and wider economy. Under the scheme, loans are available to buyers wishing to purchase a new-build property worth up to £300,000. Help to Buy Wales support is available to all home buyers (not just first time buyers) who wish to purchase a new home, but may be constrained in doing so – for example, as a result of deposit requirements – but who could otherwise be expected to repay a mortgage. A shared equity loan of up to a maximum of 20% of the property purchase price is available. In addition, buyers are required to provide a 5% and will then need to secure a mortgage to cover the remaining balance. All builders (of all sizes) are able to register with the scheme and sell properties through the initiative. The data shown here are aggregated from the individual transaction records recorded by Help to Buy Wales Ltd, an extract of which is supplied monthly to Welsh Government.

In December 2024, the value of mortgage lending to owner-occupier borrowers (excluding first-home buyers) in New Zealand amounted to around 4.73 billion New Zealand dollars. Residential lending to investors was approximately 1.69 billion New Zealand dollars in comparison. Housing affordability in New Zealand Many people across New Zealand have discarded the homeownership dream due to the country’s unaffordable housing supply. While average residential house prices fell across some of New Zealand’s regions in 2024, first-home buyers are still largely priced out of the market due to high mortgage repayments, interest rates, and average home deposit values. The monthly residential mortgage lending value to first-home buyers in New Zealand in December 2024 came to around 1.6 billion New Zealand dollars, marking a slight rise from the previous month. The highest monthly value of mortgage lending to first-home buyers across the country was recorded in March 2021, during a year when average residential mortgage rates were at their lowest. Where are residential mortgage interest rates heading? According to a survey conducted in May 2023, rising interest rates were the leading property market concern among New Zealanders, with over 54 percent of respondents expressing their concern. New Zealand’s average new residential mortgage interest rates were at their lowest in 2021 but have inflated greatly over the past few years. In June 2021, the average 1-year fixed interest rate for a new standard residential mortgage in New Zealand was at 3.17 percent, with this rate rising to over 7.7 percent by December 2023. Nonetheless, mortgage rates showed signs of leveling out at the end of 2023, and began declining in 2024.

In 2024, the average age of recent first-time buyers in London was slightly higher than the England average. Across the UK, first-time buyers accounted for approximately 290,000 home sales. First-time buyer prices and mortgages In London, the average value of a mortgage for first-time buyers was far higher than all other regions in the UK. Apart from the initial cost of a down payment, those that can afford to, see monthly payment savings against those renting. In certain parts of the country, annual savings of buying against renting saw first time buyers amounted to over two thousand British pounds. Help to buy To encourage first-time buyers, the UK government started the "Help to buy" scheme. The scheme sees people saving for a first-time home receive a 25% bonus to their savings when purchasing a house valued at 250,000 British pounds (450,000 British pounds in London). Between December 2015 and March 2018, the North West of England saw the highest number of Help to buy ISA bonuses paid.

The average loan term for second and subsequent buyers (SSBs) in Ireland slightly increased in 2023. In 2017, the average loan term stood at 24 years, and in 2023, it stood at 24.06 years. For first-time buyers, the average term was much longer.

The house price-to-income ratio in Australia was 122.1 as of the third quarter of 2024. This ratio, calculated by dividing nominal house prices by nominal disposable income per head, increased from the previous quarter. The price-to-income ratio can be used to measure housing affordability in a specific area. Australia's property bubble There has been considerable debate over the past decade about whether Australia is in a property bubble or not. A property bubble refers to a sharp increase in the price of property that is disproportional to income and rental prices, followed by a decline. In Australia, rising house prices have undoubtedly been an issue for many potential homeowners, pricing them out of the market. Along with the average house price, high mortgage interest rates have exacerbated the issue. Is the homeownership dream out of reach? Housing affordability has varied across the different states and territories in Australia. In 2024, the median value of residential houses was the highest in Sydney compared to other major Australian cities, with Brisbane becoming an increasingly expensive city. Nonetheless, expected interest rate cuts in 2025, alongside the expansion of initiatives to improve Australia's dwelling stock, social housing supply, and first-time buyer accessibility to properties, may start to improve the situation. These encompass initiatives such as the Australian government's Help to Buy scheme and the Housing Australia Future Fund Facility (HAFFF) and National Housing Accord Facility (NHAF) programs.

To obtain a mortgage, first-time homebuyers in the United Kingdom (UK) need to save a deposit amounting to about 19 percent of the property purchase price. The higher the property value and the loan amount, the higher the deposit. In 2023, the average first-time buyer deposit in the UK was about 53,414 British pounds, but in the most expensive region, Greater London, the deposit amount was more than double. The share of the deposit was also much higher than in other regions in the UK. How has the house price for first-time buyers changed over time? Housing bought by first-time buyers has become increasingly more expensive since 2000, making it harder for renters to get on the property ladder. By 2023, the average house price had tripled. The price also varied in different regions, with the North East being the least expensive and Greater London – the priciest. Which are the most affordable areas for first-time buyers? While housing in certain areas can be pricy, this does not necessarily make it unaffordable, as the standard of living may also be higher. In 2021, the most affordable towns for first-time buyers were found in the North West region (Burnley) and Scotland (East Ayshire, North Ayshire, Inverclyde, West Dunbartonshire).

This statistic shows the share of first-time home buyers in total mortgage applications in the four largest municipalities in the Netherlands from 2015 to the first half of 2017. In the first six months of 2017, the share of first-time home buyers in the cities of Amsterdam, Rotterdam, The Hague and Utrecht reached a value of approximately 39 percent. This is an increase when compared to 2016, but a decrease when compared to the value reached in 2015 when first-time home buyers made up approximately 50 percent of mortgage applications in the four biggest cities in the Netherlands.

In recent years, the housing market has continued to rise in the Netherlands due to low mortgage rates, a recovering economy and a high level of consumer confidence. For example, the average selling price of houses was higher in 2016 than in 2013, when prices reached a low point. In 2017, real estate prices are expected to increase with five percent as a high number of sales, combined with an increasingly scarce supply, are expected to push the housing price up.

In the four largest municipalities, the demand of housing outweighs the supply. In December 2016, the average number of houses for sale in the municipality of Amsterdam was approximately 1,800 with this number reaching an average of 4,300 in December 2014.