The number of people who took their first step on the property ladder last year is estimated to have reached its highest levels since 2007.
Across the UK, there were 353,436 first-time buyers in 2019, slightly up from the 353,130 recorded in 2018 and the highest annual total since 357,590 in 2007, according to calculations from Yorkshire Building Society.
But there is still some way to go before first-time buyer numbers reach 2006 levels, when the annual total stood at 400,870.
The society used industry-wide mortgage data from trade association UK Finance up to October, as well as estimates for November and December, to calculate the total number of first-time buyers last year.
Nearly twice as many first-time buyers secured a mortgage in 2019 as at the start of the financial crisis in 2008 (191,040), with those entering the property market now accounting for more than half (51 per cent) of homes purchased with a mortgage. In 2008 this share was just 38 per cent.
1/50 1 January 2020
People take part in the Loony Dook New Year’s Day dip in the Firth of Forth at South Queensferry, as part of Edinburgh’s Hogmanay celebrations
PA
2/50 31 December 2019
Surfers at Tynemouth on the north east coast
PA
3/50 30 December 2019
Deer graze in the morning mist as cyclists ride by in Richmond Park, London
Reuters
4/50 29 December 2019
Night sky after the sunset at Whitley Bay in Northumberland
PA
5/50 28 December 2019
The Harlequins players arrive at the stadium prior to the Gallagher Premiership Rugby Big Game 12 match between Harlequins and Leicester Tigers at Twickenahm Stadium
Getty Images for Harlequins
6/50 27 December 2019
A car drives through floodwater near Harbridge, north of Ringwood in Hampshire, after the river Avon burst its banks
PA
7/50 26 December 2019
Participants in the Old Surrey and West Kent Boxing Day Hunt in Chiddingstone. Hunting with horses and hounds is a Boxing Day tradition. Since the fox hunting ban in 2004, modified hunts take place using scented trails for the animals to follow
EPA
8/50 25 December 2019
Swimmers of the Serpentine Swimming Club take part in the Peter Pan Cup race, which is held every Christmas Day at the Serpentine, in central London
PA
9/50 24 December 2019
Shoppers bid for cuts of meat during a Christmas Eve auction in Smithfield market in London
EPA
10/50 23 December 2019
Reggie the dog is rescued with a boat from flooding at the Little Venice Country Park and Marina in Maidstone
AFP via Getty
11/50 22 December 2019
People gather at Stonehenge in Wiltshire to mark the winter solstice, and to witness the sunrise after the longest night of the year
PA
12/50 21 December 2019
Southampton’s Jack Stephens scores their second goal against Aston Villa
Reuters
13/50 20 December 2019
The coffin arrives for the funeral of London Bridge terror attack victim Jack Merritt at Great St Mary’s Church in Cambridge
PA
14/50 19 December 2019
Queen Elizabeth II and her son Prince Charles walk behind the Imperial State Crown as they proccess through the Royal Gallery, before the Queen’s Speech, during the State Opening of Parliament
AFP via Getty
15/50 18 December 2019
Luke Jerram’s art installation ‘Gaia’, a replica of planet earth created using detailed Nasa imagery of the Earth’s surface, hangs on display at the Eden Project in St Austell, Cornwall
PA
16/50 17 December 2019
A surfer gets into the festive spirit at the inland surfing lagoon at The Wave, near Bristol
PA
17/50 16 December 2019
Snowy conditions near Deepdale in the Yorkshire Dales National Park as snow hits parts of the UK
PA
18/50 15 December 2019
Oisin Carson, 5, picks a Christmas tree at Wicklow Way Christmas tree farm in Roundwood
PA
19/50 14 December 2019
First Minister, Nicola Sturgeon, takes a selfie as she joins the SNPs newly elected MPs for a group photo outside the V&A Museum in Dundee, Scotland
Getty Images
20/50 13 December 2019
Prime Minister Boris Johnson and Carrie Symonds arrive back at Downing Street after the results for the general election were announced. The Conservative Party won with an overall majority
EPA
21/50 12 December 2019
A dog outside a polling station during the general election in Northumberland
Reuters
22/50 11 December 2019
Liberal Democrat leader Jo Swinson stands between a Stop Brexit sign as she attends a general election campaign event at Esher Rugby Club, south west London. Britain will go to the polls tomorrow to vote
AFP via Getty
23/50 10 December 2019
A surfer off the North East coast at Tynemouth
PA
24/50 9 December 2019
Leah Rossiter (left) and Ceara Carney, dressed as mermaids, join members of the Irish Wildlife Trust and Extinction Rebellion Ireland protesting outside Leinster House in Dublin, against overfishing in Irish Waters
PA
25/50 8 December 2019
Labour party leader Jeremy Corbyn poses for selfies with supporters at a general election rally in Colwyn Bay, north Wales
AFP via Getty
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Speedo Mick outside the stadium before the Premier League match between Everton and Chelsea at Goodison Park
Action Images via Reuters
27/50 6 December 2019
A climate activist wearing a mask and holding a placard reading ‘Fossil fuel era is over’ outside Millbank Studios in London
AP
28/50 5 December 2019
SNP leader Nicola Sturgeon with the SNP campaign bus in front of the Queensferry Crossing, while on the General Election campaign trail in Scotland
PA
29/50 4 December 2019
The Christmas tree in Trafalgar Square, which is given every year by the city of Oslo as a token of Norwegian gratitude to the people of London for their assistance during the Second World War
PA
30/50 3 December 2019
Protesters against the visit of US President Trump during a demonstration near Buckingham Palace on the first day of the Nato Summit in London
EPA
31/50 2 December 2019
England captain Joe Root celebrates reaching his double century during day 4 of the second Test match against New Zealand at Seddon Park in Hamilton, New Zealand
Getty
32/50 1 December 2019
A hard frost is seen on the first day of the meteorological winter in Pitlochry, Scotland
Reuters
33/50 30 November 2019
A police officer looks at flowers left at London Bridge in central London, after a terrorist wearing a fake suicide vest who went on a knife rampage killing two people, and was shot dead by police
PA
34/50 29 November 2019
School children and students take part in the Youth Strike for Climate in London as part of the Fridays for Future Global Climate Strike
Angela Christofilou/The Independent
35/50 28 November 2019
Cyclists make their way up a tree lined hill near to Moor Crichel in Dorset. November’s dismal weather will finally change, with drier and colder conditions coming for the start of December, forecasters have said
PA
36/50 27 November 2019
The moment a swan flew over a flock of 60,000 starlings as dusk fell on Whixall Moss Nature Reserve in Shropshire
Andrew Fusek Peters / SWNS
37/50 26 November 2019
SNP leader Nicola Sturgeon plays with local children during a visit to the Jelly Tots & Cookies Play Cafe in Uddingston, South Lanarkshire
PA
38/50 25 November 2019
Prime Minister Boris Johnson poses with sheep as he visits the Royal Welsh Showground, in Llanelwedd, Builth Wells, whilst on the General Election campaign trail
PA
39/50 24 November 2019
Cush Jumbo attends the 65th Evening Standard Theatre Awards at London Coliseum
Getty Images
40/50 23 November 2019
Labour Party leader Jeremy Corbyn meets a supporter on a train on his return from a visit to Sheffield
PA
41/50 22 November 2019
Gallery assistants adjust ‘The Ancient Town of Uglich’ by Konstantin Yuon, 1913, estimated at £600,000 to £800,000, during a press preview of the sale of works by some of the most pre-eminent creators of Russian art at Sotheby’s in London
PA
42/50 21 November 2019
A mother seal appears to hug her pup as grey seals return to Donna Nook National Nature Reserve in Lincolnshire, where they come every year in late autumn and winter to give birth
PA
43/50 20 November 2019
After Mauricio Pochettino’s sacking the eveninfg before newly appointed Tottenham head coach, Jose Mourinho, takes his first training session in charge
Tottenham Hotspur FC via Getty
44/50 19 November 2019
Prime Minister Boris Johnson during a visit to Jimmy Egan’s Boxing Academy at Wythenshawe, while on the campaign trail ahead of the General Election
PA
45/50 18 November 2019
Mist over Buttermere lake in the Lake District
PA
46/50 17 November 2019
Stefanos Tsitsipas lifts the winners trophy after beating Dominic Thiem at the ATP World Tour Finals tennis tournament in London
EPA
47/50 16 November 2019
Duke of York, speaking for the first time about his links to Jeffrey Epstein in an interview with BBC Newsnight’s Emily Maitlis
BBC/PA
48/50 15 November 2019
Brazilian indigenous leader, Kreta Kaingang from the Kaingang People, holds a petition letter with over 200,000 signatures asking the UK government to suspend trade talks with Brazil until the Amazon and its people are protected, as he poses outside 10 Downing Street
AFP via Getty
49/50 14 November 2019
Spanning all four spaces and the corridor of the White Cube Bermondsey gallery Anselm Kiefer’s new exhibition encompasses large-scale painting and installation
Rex
50/50 13 November 2019
Labour leader Jeremy Corbyn wears a pair of mittens that say ‘Pick Pam’, referring to Labour MP Pam Duncan-Glancy (not pictured) as he visits the Heart of Scotstoun Community Centre in Glasgow
Getty
1/50 1 January 2020
People take part in the Loony Dook New Year’s Day dip in the Firth of Forth at South Queensferry, as part of Edinburgh’s Hogmanay celebrations
PA
2/50 31 December 2019
Surfers at Tynemouth on the north east coast
PA
3/50 30 December 2019
Deer graze in the morning mist as cyclists ride by in Richmond Park, London
Reuters
4/50 29 December 2019
Night sky after the sunset at Whitley Bay in Northumberland
PA
5/50 28 December 2019
The Harlequins players arrive at the stadium prior to the Gallagher Premiership Rugby Big Game 12 match between Harlequins and Leicester Tigers at Twickenahm Stadium
Getty Images for Harlequins
6/50 27 December 2019
A car drives through floodwater near Harbridge, north of Ringwood in Hampshire, after the river Avon burst its banks
PA
7/50 26 December 2019
Participants in the Old Surrey and West Kent Boxing Day Hunt in Chiddingstone. Hunting with horses and hounds is a Boxing Day tradition. Since the fox hunting ban in 2004, modified hunts take place using scented trails for the animals to follow
EPA
8/50 25 December 2019
Swimmers of the Serpentine Swimming Club take part in the Peter Pan Cup race, which is held every Christmas Day at the Serpentine, in central London
PA
9/50 24 December 2019
Shoppers bid for cuts of meat during a Christmas Eve auction in Smithfield market in London
EPA
10/50 23 December 2019
Reggie the dog is rescued with a boat from flooding at the Little Venice Country Park and Marina in Maidstone
AFP via Getty
11/50 22 December 2019
People gather at Stonehenge in Wiltshire to mark the winter solstice, and to witness the sunrise after the longest night of the year
PA
12/50 21 December 2019
Southampton’s Jack Stephens scores their second goal against Aston Villa
Reuters
13/50 20 December 2019
The coffin arrives for the funeral of London Bridge terror attack victim Jack Merritt at Great St Mary’s Church in Cambridge
PA
14/50 19 December 2019
Queen Elizabeth II and her son Prince Charles walk behind the Imperial State Crown as they proccess through the Royal Gallery, before the Queen’s Speech, during the State Opening of Parliament
AFP via Getty
15/50 18 December 2019
Luke Jerram’s art installation ‘Gaia’, a replica of planet earth created using detailed Nasa imagery of the Earth’s surface, hangs on display at the Eden Project in St Austell, Cornwall
PA
16/50 17 December 2019
A surfer gets into the festive spirit at the inland surfing lagoon at The Wave, near Bristol
PA
17/50 16 December 2019
Snowy conditions near Deepdale in the Yorkshire Dales National Park as snow hits parts of the UK
PA
18/50 15 December 2019
Oisin Carson, 5, picks a Christmas tree at Wicklow Way Christmas tree farm in Roundwood
PA
19/50 14 December 2019
First Minister, Nicola Sturgeon, takes a selfie as she joins the SNPs newly elected MPs for a group photo outside the V&A Museum in Dundee, Scotland
Getty Images
20/50 13 December 2019
Prime Minister Boris Johnson and Carrie Symonds arrive back at Downing Street after the results for the general election were announced. The Conservative Party won with an overall majority
EPA
21/50 12 December 2019
A dog outside a polling station during the general election in Northumberland
Reuters
22/50 11 December 2019
Liberal Democrat leader Jo Swinson stands between a Stop Brexit sign as she attends a general election campaign event at Esher Rugby Club, south west London. Britain will go to the polls tomorrow to vote
AFP via Getty
23/50 10 December 2019
A surfer off the North East coast at Tynemouth
PA
24/50 9 December 2019
Leah Rossiter (left) and Ceara Carney, dressed as mermaids, join members of the Irish Wildlife Trust and Extinction Rebellion Ireland protesting outside Leinster House in Dublin, against overfishing in Irish Waters
PA
25/50 8 December 2019
Labour party leader Jeremy Corbyn poses for selfies with supporters at a general election rally in Colwyn Bay, north Wales
AFP via Getty
26/50 7 December 2019
Speedo Mick outside the stadium before the Premier League match between Everton and Chelsea at Goodison Park
Action Images via Reuters
27/50 6 December 2019
A climate activist wearing a mask and holding a placard reading ‘Fossil fuel era is over’ outside Millbank Studios in London
AP
28/50 5 December 2019
SNP leader Nicola Sturgeon with the SNP campaign bus in front of the Queensferry Crossing, while on the General Election campaign trail in Scotland
PA
29/50 4 December 2019
The Christmas tree in Trafalgar Square, which is given every year by the city of Oslo as a token of Norwegian gratitude to the people of London for their assistance during the Second World War
PA
30/50 3 December 2019
Protesters against the visit of US President Trump during a demonstration near Buckingham Palace on the first day of the Nato Summit in London
EPA
31/50 2 December 2019
England captain Joe Root celebrates reaching his double century during day 4 of the second Test match against New Zealand at Seddon Park in Hamilton, New Zealand
Getty
32/50 1 December 2019
A hard frost is seen on the first day of the meteorological winter in Pitlochry, Scotland
Reuters
33/50 30 November 2019
A police officer looks at flowers left at London Bridge in central London, after a terrorist wearing a fake suicide vest who went on a knife rampage killing two people, and was shot dead by police
PA
34/50 29 November 2019
School children and students take part in the Youth Strike for Climate in London as part of the Fridays for Future Global Climate Strike
Angela Christofilou/The Independent
35/50 28 November 2019
Cyclists make their way up a tree lined hill near to Moor Crichel in Dorset. November’s dismal weather will finally change, with drier and colder conditions coming for the start of December, forecasters have said
PA
36/50 27 November 2019
The moment a swan flew over a flock of 60,000 starlings as dusk fell on Whixall Moss Nature Reserve in Shropshire
Andrew Fusek Peters / SWNS
37/50 26 November 2019
SNP leader Nicola Sturgeon plays with local children during a visit to the Jelly Tots & Cookies Play Cafe in Uddingston, South Lanarkshire
PA
38/50 25 November 2019
Prime Minister Boris Johnson poses with sheep as he visits the Royal Welsh Showground, in Llanelwedd, Builth Wells, whilst on the General Election campaign trail
PA
39/50 24 November 2019
Cush Jumbo attends the 65th Evening Standard Theatre Awards at London Coliseum
Getty Images
40/50 23 November 2019
Labour Party leader Jeremy Corbyn meets a supporter on a train on his return from a visit to Sheffield
PA
41/50 22 November 2019
Gallery assistants adjust ‘The Ancient Town of Uglich’ by Konstantin Yuon, 1913, estimated at £600,000 to £800,000, during a press preview of the sale of works by some of the most pre-eminent creators of Russian art at Sotheby’s in London
PA
42/50 21 November 2019
A mother seal appears to hug her pup as grey seals return to Donna Nook National Nature Reserve in Lincolnshire, where they come every year in late autumn and winter to give birth
PA
43/50 20 November 2019
After Mauricio Pochettino’s sacking the eveninfg before newly appointed Tottenham head coach, Jose Mourinho, takes his first training session in charge
Tottenham Hotspur FC via Getty
44/50 19 November 2019
Prime Minister Boris Johnson during a visit to Jimmy Egan’s Boxing Academy at Wythenshawe, while on the campaign trail ahead of the General Election
PA
45/50 18 November 2019
Mist over Buttermere lake in the Lake District
PA
46/50 17 November 2019
Stefanos Tsitsipas lifts the winners trophy after beating Dominic Thiem at the ATP World Tour Finals tennis tournament in London
EPA
47/50 16 November 2019
Duke of York, speaking for the first time about his links to Jeffrey Epstein in an interview with BBC Newsnight’s Emily Maitlis
BBC/PA
48/50 15 November 2019
Brazilian indigenous leader, Kreta Kaingang from the Kaingang People, holds a petition letter with over 200,000 signatures asking the UK government to suspend trade talks with Brazil until the Amazon and its people are protected, as he poses outside 10 Downing Street
AFP via Getty
49/50 14 November 2019
Spanning all four spaces and the corridor of the White Cube Bermondsey gallery Anselm Kiefer’s new exhibition encompasses large-scale painting and installation
Rex
50/50 13 November 2019
Labour leader Jeremy Corbyn wears a pair of mittens that say ‘Pick Pam’, referring to Labour MP Pam Duncan-Glancy (not pictured) as he visits the Heart of Scotstoun Community Centre in Glasgow
Getty
Yorkshire Building Society strategic economist Nitesh Patel said: “Even though the number of first-time buyers has stayed pretty much the same as last year, it is still encouraging to see first-time buyers top 350,000 for the second year in a row.
“They also represent over half of all homes bought with a mortgage, meaning the first-time buyer mortgage market share is at its highest since 1995, when they bought 53 per cent of all mortgage-financed homes.”
He continued: “In recent years first-time buyers have been helped by strong competition driving mortgage rates down to near-record lows, making borrowing more accessible.
“Also, government schemes such as stamp duty relief, help to buy equity loans and help to buy ISAs will have made an impact.
“This combination of factors has made buying a home more accessible in recent years.
“This has seen the first-time buyer market bounce back from the financial crisis and perform better than other sectors, such as the home-moving and buy-to-let markets.
“However, as these figures show, the market may have now reached its peak and buying your first home still remains tough for many.”
Press Association
