First-time buyers are coming out in force following buy-to-let crackdown

We have seen a surge of First-time buyer activity in June what may be evidence that the Government’s plan of curbing the buy-to-let market is beginning to have an effect.
With the First-time buyer market seeing an increase of 26% (source: UK Finance) the buy to let market remains sluggish.
With Buy-to-let lending having a weak start to 2017 due to the many regulation changes the market has endured the sector’s contribution to overall net mortgage lending has fallen considerably over the last year.
The Government wanted to implement changes to assist First-time buyers by freeing up properties that were being bought by landlords, they increased the stamp duty by 3% on second home in April 2016
Furthermore, mortgage interest relief for residential buy-to-let properties has been reduced to the base income tax rate, which is 20%. Landlords were previously able to claim tax relief on the top rate of tax of up to 45%.
The increase in first-time activity is hugely encouraging for the housing market. The slowdown in activity in buy-to-lets seems to have created opportunities for those buying a home for the first time, who may previously have struggled against the purchasing power of a landlord.