First Time Buyers

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First Time Buyers are the lifeblood of the housing market. Without them the market would grind to a halt and we would have stagnation which would eventually turn into a house price crash. Recently first time buyers have been priced out of the housing market by Buy to let landlords.

During the house price boom first time buyers have seen house price inflation rise well above pay rises and the interest that they were getting on their savings.

The UK now has thousands of first time buyers that are living in private rented accommodation waiting for prices to return to affordable levels. The good news for First Time Buyers is that rental levels are relatively low compared to the cost of mortgage repayments on the property that is being rented so first time buyers can still afford to live in a suitable property just not buy it yet. This is one of the key counter-arguments regarding the issue of a housing shortage.

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