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First-time buyers fall to five-year low

Fewer than one in five homes bought in the first nine months of 2022 were bought by first-time buyers.

An analysis of HM Revenue & Customs data by Coventry Building Society calculated that 142,600 people claimed first-time buyer relief on their house purchases between January and September last year, making up 18% of transactions.

An estimated 217,700 people bought their first house in 2018, followed by 223,400 in 2019.

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