Friday, Oct 19, 2007
Any more evidence needed that house prices are unaffordable therefore unsustainable?
Firstrung: First time buyers reach recorded lows at 8.8% of the market
First time buyers reduced their share of the market in September for the second month running, down to 8.8% compared with 9.7% in August and 11.1% in September 2006. With buyers at all levels currently demonstrating caution, first timers proved to be no exception this September. Inflated house prices combined with the rising cost of moving continues to be a barrier to entry for many. Meanwhile confidence in the mortgage market has also been shaken and the NAEA has recently urged the Bank of England to help improve the situation by maintaining or dropping interest rates for the remainder of 2007.The good news for first time buyers is that with the current oversupply of one and two bedroom properties there is more choice at the lower end of the market, which can potentially be taken advantag
1 Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Mattsmith said...
Seems as though this is a case of the rich getting richer and buying all the available property. Maybe back to an era where a few people own all the land and the rest of us are just pawns.
If this is the case, then the FTB has no bearing on market prices as demand is from the cash rich.