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Struggle for first-time buyers

April 17, 2008 Posted by

The housing boom of the last decade has priced many first-time buyers out of the property market, according to the charity Shelter.

The charity’s Roof Affordability Index found that the price of an average first-time property rose from £52,674 in 1997 to £159,494 last year.

The figures showed that buyers’ average income had become smaller compared with the price of a property.

Prices are now starting to fall, but mortgages have become harder to secure.

Full story: http://news.bbc.co.uk/1/hi/business/7350968.stm

One Response to “Struggle for first-time buyers”

  1. Struggle for first-time buyers Says:

    […] Default title wrote an interesting post today onHere’s a quick excerpt The housing boom of the last decade has priced many first-time buyers out of the property market, according to the charity Shelter. The charity’s Roof Affordability Index found that the price of an average first-time property rose from £52,674 in 1997 to £159,494 last year. The figures showed that buyers’ average income had become smaller compared with the price of a property. Prices are now starting to fall, but mortgages have become harder to secure. Full story: http://news.bbc.co.uk/1/hi […]

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