As with the tradition of holiday events within the month of December each year, so is the fall in the number of first time buyers in the UK housing market during the month. This past year was no different as first timers across the country allowed themselves the distractions of the holiday season like many others. The number of first timers fell by almost 5% month on month, according to estate agent Your Move and Reeds Rains.

First time buyers have faced many challenges during the last few years. UK house prices continue to increase leaving few choices for those who are ready to join the first rung of the property ladder. Those who are ready are looking at such an overwhelming deposit that many have to turn around and look into renting something or living with parents for a time.

Although the number of first timers decreased month on month, the number of buyers year on year increased more than 1%. This indicates strength from the group, although at a nominal level.

Adrian Gill, director of Your Move and Reeds Rains, commented on the situation currently facing first time buyers, saying: “An examination of the year-on-year figures reveals a property market that – festive slowdown aside – is going from strength to strength.

“First-time buyers have been buoyed by a positive economic climate and a range of government incentives designed to lessen the immediate costs of home ownership.”

First time buyers are looking at an uphill climb when looking for property initially, but many government programmes are now in place to assist in the payment of a deposit.