The pandemic sparked first-time buyer applications into jumping by 185% last year, according to data from online mortgage broker Trussle.

This surge continued into 2021, with first-time buyer applications up 74% so far, says the broker.

The firm says that despite the “uncertain economic climate” more FTBs were able to save a deposit greater than £15,000.

In 2020, only 73% were able to afford a deposit greater than this sum, but in 2021 this number increased to 87%.

Trussle says: “Faced with limited spending options due to less commuting and the closure of hospitality and retail, many buyers have been able to use the lockdown period to review their finances with the hopes of buying a new home.”

It adds that “many FTBs moved back in with their family to allow them to save more towards a deposit”.

The broker says that the stamp duty holiday and the ability to save also spurred the market as a whole, with next-time buyer applications increasing by 93% last year, and so far lifting by 85% in 2021.

Just 51% of next-time buyers had a deposit of over £25,000 when moving home in 2019. But, this grew to 67% in 2020 and so far has jumped by 76% this year, says the broker.

Trussle also found that the demand for larger greener living spaces as the post-covid economy opens up has not materialised.

The broker says the demand for flats “coveted for their proximity to jobs and amenities” has “remained consistent since 2019 and the pandemic has not impacted their desirability for buyers”.

The firm also found no evidence of a greater push towards “rural destinations” sparked by the health crisis.

It says: “Trussle has seen an overall downward trend in applications for properties in London since 2019, there is no indication that this has been accelerated by the lockdowns. As a result, urban areas appear to remain popular destinations.”

Trussle head of mortgages Miles Robinson says: “Despite the coronavirus pandemic bringing huge economic uncertainty, this hasn’t deterred would-be house hunters, and particularly FTBs. The market became virtually inaccessible for first-time buyers and those with smaller deposits, as lenders took a more cautious approach and restricted their criteria.

“However, some first-time buyers have been able to use this time to save more money towards their housing deposit, and this could explain why activity from this group has soared throughout the pandemic.”

Robinson adds: “While this is all positive news, we should still exercise some caution. There’s evidence to suggest prices have been inflated due to the demand created by the stamp duty holiday, which has led to bidding wars and a lower stock of available properties.”