A photo has been circulating online which may or may not be our every first look at Martin Freeman in costume as Bilbo.
The photo doesn’t show the person face, so I’m not really sure that it is even him. But considering there aren’t many hobbits in the movie, once Bilbo leaves hobbiton he’s in the company of Dwarves and he leaves the rest of the Halfling world behind.
So we can assume that this is Martin Freeman in his Bilbo costume we see in the photo. The One Ring has released the photos taken on the film’s New Zealand set. Check them out: