Tuesday, Jun 15, 2010
First-time buyer latest
Mortgage Strategy: First-time buyers at lowest level since 2007
First-time buyers made up the lowest proportion of house purchase loans since September 2007, according to figures released today by the Council of Mortgage Lenders.They accounted for 35% of all house purchase mortgages, down from 39% in March and 38% in April 2009. The low share of the market shows that getting a mortgage remains problematic for first-time buyers who tend not to have a substantial deposit.
Posted by jack c @ 10:53 AM (1244 views) Add Comment
7 Comments
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1. mark wadsworth said...
The relative figure (FTB as % of all buyers) is completely and utterly meaningless.
It is only the absolute figure of FTBs that matters. I stumbled across a statistic yesterday that only a quarter of 25 - 34 year olds owned their own home. That strikes me as absolutely appalling.
2. karlos said...
Maybe a quarter of 25-34 are paying a mortgage, but how many of those are actually just paying the interest on a mortgage? A huge proportion, IIRC...
3. rumble said...
This will help the trend.
4. mark wadsworth said...
Rumble, that is one of my favourite statistics.
As it happens, I am in the largest age cohort (i.e. mid-40s), so as a sell-to-renter this is all going my way - those above me will have less and less disposable income (they might even start 'trading down', Heaven forfend) and those below me (with whom I am competing to buy a house) will be fewer and fewer in number, and even though they may earn as much as I do, they have a lot less cash in the bank.
5. alan_540 said...
So much for Labour being the party of social inclusion. Exclusion more like.
6. markj69 str05 said...
'First-time buyers were particularly affected, perhaps because of the alteration to stamp duty, and in anticipation of the changes arising from the economic and political uncertainty of recent months.'
'....and in anticipation of the changes arising from the economic and political uncertainty of recent months.'
What a load of horse Sh1t. Why can't they just say -'and the prospects of a price crash'? Because house prices are just far too high!
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