First-time buyers drive the 2025 housing market: A Midlands perspective
As a firm that has been surveying properties across the Midlands since 1988, we’ve seen many market shifts.
But the trend defining 2025 is unmistakable: first-time buyers are not just participating in the market; they are leading it.
New figures show a surge of confidence among those taking their first step onto the property ladder. While this is fantastic news, it also brings a fresh set of challenges and considerations.
Here’s our breakdown of the national picture and what it specifically means for anyone buying their first home here in the Midlands.
The National Picture: A Surge in First-Time Buyer Activity
Across the UK, the data is compelling. First-time buyers now account for a staggering 39% of all property sales and nearly half of all new mortgages. This boom is being fuelled by a significant increase in borrowing power, which has risen by around 20% in the last six months alone.
This has had a direct impact on prices:
The average first-time buyer home now costs £229,000, an increase of 2.4% over the last year.
This growth is outpacing the wider market (which grew by 1.3%), proving that this new wave of buyers is the engine room of the property market.
So, what are they buying? The traditional three-bedroom house remains the firm favourite, while demand for flats outside of London has softened. This suggests buyers are looking for long-term, versatile homes right from the start.
The Midlands View: Opportunity Meets Prudence
While national statistics are useful, property is always local. In the Midlands, we are seeing these trends play out with a unique regional flavour. Areas from Birmingham to Coventry and across the West and East Midlands offer a diverse housing stock that aligns perfectly with the national preference for three-bedroom homes.
However, with rising prices and increased competition, making a smart, informed decision has never been more critical. The 20% boost in borrowing power is a fantastic opportunity, but it also increases the risk of stretching your budget for a property that might hide costly secrets.
This is where the value of nearly four decades of local surveying experience becomes clear.
Why a Property Survey is Non-Negotiable in This Market
For first-time buyers, excitement can sometimes overshadow due diligence. In a fast-moving market, it's tempting to cut corners to secure a home. But skipping a professional survey is a false economy that can cost you thousands in the long run.
Uncovering Hidden Costs: That extra borrowing power can quickly be swallowed up by unexpected repairs. A RICS Homebuyer Report (Level 2 Survey) is designed to spot issues like damp, subsidence, roof problems, or faulty drainage before they become your financial burden.
Informed Negotiation: What if the property of your dreams has a hidden issue? Our survey report provides you with the factual evidence needed to renegotiate the purchase price. A few hundred pounds for a survey could save you thousands off the asking price or from a future repair bill.
Peace of Mind for Your Biggest Investment: Your first home is more than just bricks and mortar; it's the foundation of your future. A thorough survey ensures you are investing in a safe, structurally sound property, giving you the confidence to turn a house into a home.
As our Managing Director, Ian Bullock, notes:
"We're seeing a welcome wave of optimism from first-time buyers across the Midlands. They're using their improved affordability to secure family homes with long-term potential. Our role is to ensure that potential is genuine. A detailed survey protects that investment and ensures there are no unwelcome surprises waiting after moving day. In this market, knowledge isn't just power, it's protection."
Our Advice for First-Time Buyers in 2025
Look Beyond the Fresh Paint: Sellers will present their home in the best possible light. A surveyor is trained to look past the cosmetic touches and assess the structural integrity of the building.
Choose the Right Survey: For most traditionally built modern homes, a RICS Homebuyer Report (Level 2) is ideal. For older, larger, or more unconventional properties, a RICS Building Survey (Level 3) provides a more in-depth analysis.
Budget for a Survey: View the survey fee as an essential part of your home-buying budget, just like solicitor fees or stamp duty. It’s the most important investment you’ll make in the process.
Ready to take your first step onto the property ladder with confidence?
The market is moving, and first-time buyers are in the driving seat. Let Carpenter Surveyors be your trusted co-pilot. With our unparalleled experience in the Midlands property market, we're here to provide the clarity and assurance you need.
Contact our friendly team today for a no-obligation quote and let us help you make your first home a sound investment. Call us on 0800 254 5202 or visit our website to learn more.