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
April 17, 2008 at 4:47 am
[…] 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 […]