First-time buyer activity rose to 36% of market activity in February, rising from 28% in February 2016 according to the latest research from Connells Survey & Valuation.

The near zero base rate has ensured that mortgages remain more affordable than ever – with gross lending at its highest level since 2008 – and first-time buyers have seized the opportunity to get on the property ladder.

This group accounted for 36% of activity in the property market during February – the highest proportion of first-time buyers since July 2011 and the highest February since 2010.

John Bagshaw, corporate services director at Connells Survey & Valuation, said:“In contrast to the resurgent market for first-time buyers, the buy-to-let purchase market fell to a new low in February. Continuing the decline seen in recent months, buy-to-let purchases almost halved in February compared to the previous year. February 2016 did see an upswing in activity ahead of the stamp duty surcharge, but buy-to-let purchases now represent just 8% of market activity – the lowest level for February in over five years.”