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The Masked Tulip

Hope Is On The Horizon For First-Time Buyers

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I think the Western Mail makes the Daily Express look bearish on HPs.

MORTGAGE affordability for first-time buyers is at its most favourable for 12 years, research published today claims.

After years of unfavourable conditions for those wanting to take their first step onto the property ladder, lending giant Halifax says falling house prices – among other factors – are improving affordability levels.

The proportion of disposable earnings devoted to mortgage payments by a potential new first-time buyer stood at 27% in September 2010; the lowest since December 1998 and almost half of the peak level of 50% in September 2007.

But experts say prospects for buying a home for many first- timers remain remote because the deposits needed for mortgages are so large.

Kelvin Francis, of the Royal Institution of Chartered Surveyors Wales, agreed that prices and mortgages for first-time buyers have become more affordable – provided they have enough of a deposit.

Mr Francis, of Cardiff-headquartered chartered surveyor estate agents Kelvin Francis, said: “Certainly price-wise, I would say conditions are better now for first-time buyers.

“A lot of first-time buyers have relied on parents’ help but not everyone can do that.”

Mr Francis argued that the property market, usually powered by first-time buyers, has been kept buoyant by buy-to-let investors tapping into the booming rental market.

He said: “A lot of young couples who would look to buy but can’t are renting which is putting pressure on the to-let market.”

Mr Francis argued that the prospects for the first-time buyer market in 2011 is healthier, provided access to affordable mortgages becomes easier.

According to the Halifax’s study, the average cost of a new home for first-time buyers in Wales in 2010 is 106% more than it was in 2000 – and that is despite a fall in the last 12 months of 0.2%.

It drones on but I will leave you to click on the link.

Read More http://www.walesonline.co.uk/news/wales-news/2010/12/29/hope-is-on-the-horizon-for-first-time-buyers-91466-27899911/#ixzz19UwlDW00

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I think the Western Mail makes the Daily Express look bearish on HPs.

It drones on but I will leave you to click on the link.

Read More http://www.walesonline.co.uk/news/wales-news/2010/12/29/hope-is-on-the-horizon-for-first-time-buyers-91466-27899911/#ixzz19UwlDW00

Don't think I'll bother.

Prices down 0.2% on the year? Time to pile in!

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I think the Western Mail makes the Daily Express look bearish on HPs.

It drones on but I will leave you to click on the link.

Read More http://www.walesonline.co.uk/news/wales-news/2010/12/29/hope-is-on-the-horizon-for-first-time-buyers-91466-27899911/#ixzz19UwlDW00

Parents - not always the brightest tools in the box, best thing they can do is NOT help their kids with a deposit, house prices will come down so best not saddle them with something they cannot afford, could end stuffing up the parents too!

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Parents - not always the brightest tools in the box, best thing they can do is NOT help their kids with a deposit, house prices will come down so best not saddle them with something they cannot afford, could end stuffing up the parents too!

Yep, parents lend the 20% deposit. House prices then drop 20%, so guess who's done their money. Parents can be such mugs.

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  • 284 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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