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First-Time Buyers Still Facing A Long Wait To Get On Ladder

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First-time buyers still facing a long wait to get on ladder

Geraint Hughes, branch partner at John Francis Estate Agents in Aberystwyth, said: “It’s very difficult for them to get the first step on the ladder particularly without the help of the bank of mum and dad. A lot are relying on early inheritances.

“I think we’re in this limbo where generally house prices are excessive in North Ceredigion and they need to come down more in line with other areas in the county.

“(Young people) will search for better paid jobs and affordability in the housing market in other areas, which we don’t want to see. It’s a shame to see the young people forced out because of things like high house prices.”

Mr Hughes said affordable housing schemes encouraged by the local authority, where first-time buyers purchase a 70% share of a property, were having little impact because of the difficulty of raising deposits.

He said: “I’ve got an affordable house in a village about four miles outside of Aberystwyth. We’ve had 19 first-time buyers look round it. They all meet the criteria but none of them has the money for a deposit.”

Average property prices are more than five times the median wage in 19 out of 40 constituencies in Wales.

Read More http://www.walesonline.co.uk/news/wales-news/2011/03/28/first-time-buyers-still-facing-a-long-wait-to-get-on-ladder-91466-28413985/#ixzz1HsuWLV6b

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It was me - I went in and out 19 times.

yeah, but have you shagged her yet?

And oh, waiting for that early inheritance?...call Bloo Loo early inheritance services on 090909 KILLMYMUM, for a fast and careful service.

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First-time buyers still facing a long wait to get on ladder

Actually there's a serious generational point here. A rented home no longer implies a slum you're desperate to escape from. Waiting is nowhere near as horrendous as older people might expect from their own memories.

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