First time buyers have been the driving force behind the housing market and this is shifting to home movers due to the Coronavirus pandemic.
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Demand for property from new buyers entering the market has maintained pressure on house prices rising 2.6% for the year.
Second steppers looking for larger homes are driving the price of three and four bedroom properties to new record high prices.
Property prices for first time buyers in London rise by 98% over the decade and deposits are more than double the national average.
Homebuyers are more reliant than ever on the bank of mum and dad funding nearly a quarter of all housing transactions.
Buyer demand is up a third this year and no signs of losing momentum with house sales 76% higher over the five year average.
The number of house sales have reached a record for the last ten years as summer holidays are replaced by moving home.
HSBC has cut rates to 1.14% on higher loan to values benefiting existing homeowners looking to move or remortgage.
Help to Buy schemes have been extended to March 2021 allowing thousands of homeowners to complete on their new build properties.
The changes to stamp duty has seen the sales agreed in London boosted by 27% as buyers save thousands on purchases.