First-time buyers pushed ‘back to square one’ |
07 2008 |
| Prospective first-time buyers will continue to opt for rental accommodation in 2008 as the affordability crisis continues, experts have stated. In spite of recent reports of a slowdown in prices for both flats and houses across the country, those looking to get a foot onto the property ladder have effectively moved "back to square one", according to Paul Holmes, chief executive of Firstrung. While Mr Holmes stated that "house price inflation, as a phenomenon, is over for this generation", he added that first-time buyers are now facing difficulties in obtaining a mortgage as UK lenders begin to tighten their belts in the wake of the global credit crunch. The comments come soon after Halifax reported that the numbers of first-time buyers in the UK has now reached its lowest level since 1980, while the Association of Residential Letting Agents has also revealed that tenant demand is currently booming across the country and in particular in the south-east England region.  |
Related Articles |
| Buy-to-let 'not dead yet' |
| Investment in property is still attracting many buyers despite falling... |
| Housing transactions on the up in October |
| The National Association of Estate Agents (NAEA) has published figures... |
| British Land sees property drop 11% |
| The property portfolio of developer British Land has fallen in value by... |
| Property in Edinburgh falls 11% |
| House prices in Edinburgh have now fallen 11 per cent in a year, research... |
| NLA comments on 'reluctant landlord' |
| The National Landlord's Association (NLA) has commented on the phenomenon... |
Copyright © 1995-2008 loot.com. All Rights Reserved. Designated trademarks and brands are the property of their respective owners. Use of this Web site constitutes acceptance of the loot