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Beware Pitfalls Of Helping Novice Homebuyers

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Beware pitfalls of helping novice homebuyers

Some interesting stats

- the number of first-time buyers whose parents have helped with a deposit rose from one in three in 2003 to more than half by November last year.

- the average UK house price of over £160,000 now more than seven times the nation’s average earnings of £22,000.

- even tougher in the capital, where the average house price of £240,000 is nearly nine times the regional average wage of £28,000.

- the average deposit rising from £5,500 in 2000, to £16,000 in 2005

So with an average wage to buy a property using an average deposit, the salary multiple is x6.5 and in London it's x8 :lol::unsure::blink:

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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