We have been working hard for over 15 years to deliver the highest quality landlord solutions. Our services cover many different areas to help however we can. One part of this is we can give you the best alternative to a high street lettings agent Barking and Dagenham has. It can give you more options and hands off letting. In addition, we are known for keeping things simple and hassle free.

A study into property transactions

The latest study into property transactions in England reveals that despite the record house price increases, first-time buyers (FTBs) make up over one in ten. Stipendium is responsible for performing the research. They analysed the most recent data available on stamp duty receipts for residential building transactions. These were ones with values at £40,000 or higher.

According to their figures, with the pandemic property boom in full force, a little over 1 million transactions were recorded. This was between 2020 and 2021. Roughly 110,700 of these were people buying their first house. Thus, these individuals accounted for 11.1% of the market activity.

Barking and Dagenham stands out

Of all the London boroughs, Barking and Dagenham was the property market’s most FTB friendly area. It was also the top location in the whole of England. In one year, FTBs made up a quarter of the transactions. It highlights how popular the area is.

Other areas across England weren’t far behind, including Thurrock and Harlow with 24% of annual property purchases coming from FTBs. Sandwell, Stevenage, and Peterborough also managed to rank highly at 21%. Bristol, Luton, Knowsley, and Oadby and Wigston were next in line at 20%. If you need to talk to the most talented lettings agent Barking and Dagenham has, please let us know.

The weaker areas

For those curious about the worst places to be a first-time buyer, there are details on that too. The City of London and Kensington and Chelsea had no transactions coming from FTBs. This may not be surprising though as they have some of the highest average house prices in London and the whole of England. Chichester, Norfolk, and Westminster also had very low FTB activity.

First-time buyers are experiencing the largest financial hurdle currently on record. They have to fight extremely hard to get their feet onto the property ladder. In the last two years alone, property values have grown substantially, making it harder to buy. Despite this, there is still strong demand from FTBs. It could also become a little easier in the near future if plans to do away with affordability checks go ahead.

Work with a reliable lettings agent in Barking and Dagenham

At Finefair Ltd, we understand that owning a rental property is trickier than many people first expect. This is largely because there are so many details and rules. Luckily, we can offer a full range of services and the best support.

If you want to talk with the most competent lettings agent Barking and Dagenham has, we are here for you. We understand private letting and council leasing, ensuring we can help landlords to make the best decision. So, get in touch today.