Searches only marginally below same time last year

First-time buyer resilience remains, with only marginally fewer first-time buyer searches carried out in the last five months than the same time last year.

Data from Twenty7tec shows that advisors carried out 1.7 million first-time buyer searches between 1 January and 29 May 2026, compared to 1.85 million recorded during the same period in 2025.

Property values and mortgage commitments have increased, however, with the average property value searched for rising from £292,227 in 2025 to £298,055 in 2026. The average loan size has risen from £227,347 to £234,353.

Buyers taking a longer-term view of finances

Nathan Reilly, chief customer officer at Twenty7tec, said: “The data suggests first-time buyers are becoming increasingly pragmatic in their approach to homeownership. With property values continuing to rise, many are reassessing what and where they can afford to buy, while taking a longer-term view of their finances.”

“What’s notable is that demand has remained relatively stable throughout this period. That points to a market where aspirations haven’t changed, even if the route to achieving them may have become more challenging. And in this environment, the value of the advice process has never been greater.”

Recent house price indices have highlighted the opportunity for first-time buyers as demand outstrips supply and mortgage affordability has eased, with some experts saying now offers the best opportunity to buy of late.