First-time buyer registrations have leapt by nearly 80% over the past 12 months and now account for more than four out of 10 new mortgages.
But first-time buyers can also expect to pay a lot more to get on the property ladder.
The average UK first-time buyer property price jumped 9.4% to £155,278 in the year to November, according to new research from estate agency chain Haart, published today.
Chief executive Paul Smith said: “The first-time buyer resurgence continues with their registrations up 78.4% annually across the UK.
"They are now able to secure significantly higher deposits, up 4.4% annually, and mortgages, up 10.9% annually.
"First time buyers now make up 43.8% of all mortgages written. With competitor banks also taking up Help to Buy, more first-time buyers will be given that boost onto the property market ladder.
The mismatch between supply and demand has continued, with property supply rising just 4.7% annually.
Smith said: "Let’s see if the Chancellor’s commitment to pump £1 billion into infrastructure to unlock construction projects comes off and alleviates the crippling shortage of property supply."
The wider housing recovery is set to continue, he said. "The UK property market is continuing relentlessly in the winter months with annual growth in all areas.
"Growth is controlled, with the Bank of England appointed guardian against the property market bubble in the Chancellor’s Autumn Statement.
"In fact, Mark Carney has already taken his foot off the market stimulus pedal by removing Funding for Lending Scheme for mortgages, wary that too much demand may have a detrimental impact.“
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