RISING confidence in the UK’s property market has been emphasised once more by the increasing willingness of second-time buyers to make their next move up the ladder.

Research shows 40 per cent of first-time owners are currently planning their second step, up from just 26 per cent at the same time last year.

Kevin Shaw, national sales director at estate agents Leaders, says: “Second-time buyers are a good indicator of the state of the market, as they typically consider more factors – such as affordability, space and the potential to start a family – than first-time buyers.

“The fact more people are looking to make their second purchase and move up the property ladder is a tremendous sign of confidence in the property market. It is also important as it frees up more homes likely to be of interest to first timers.

“Record low interest rates undoubtedly make it a good time for people to get on with their next move. A range of mortgages with low rates are available now, so finding your dream home may never be more affordable.”

A third of respondents to the survey by Clydesdale and Yorkshire Banks revealed a third of people are looking to move as they have outgrown their current property, while 24 per cent wish to move up the ladder to a more expensive home.

The study also found more people in the north-east and north-west aspire to making a second step, with 48 per cent hoping to buy a new home. This compares with 29 per cent in the south-west.

Kevin adds: “Regardless of your circumstances, taking the next step and finding a long-term home should always be a priority. And a stable market with low mortgage rates creates a great opportunity that is well worth considering.

“Similarly, growing confidence among buyers is likely to result in greater demand that also makes it a shrewd time to sell.”

For more information on selling or buying a property, contact your local Leaders branch or visit leaders.co.uk