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Wales Remains First-Time Buyer Blackspot Despite Lower Property Prices

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Wales remains first-time buyer blackspot despite lower property prices

WALES is one of the hardest areas for first-time buyers to step on to the property ladder, even as homes become more affordable.

A study by property website Rightmove revealed that the proportion of first-time buyers in Wales was one of the lowest in the UK.

It comes despite the fact that a Halifax study found that the proportion of towns and cities that are affordable for first-time buyers has risen to its highest level since 2003.

The Righmove study suggests that young would-be buyers are still unable to get the mortgages they need to step on to the housing ladder.

The survey, published today, shows the proportion of first- time buyers in Wales is just 17.6%, compared to more than 41% in London and 23% in the West Midlands and North-West of England. Only Scotland has a lower proportion – 16.8%.

It means that despite

Read More http://www.walesonline.co.uk/news/wales-news/2011/08/08/wales-remains-first-time-buyer-blackspot-despite-lower-property-prices-91466-29194833/#ixzz1UQmdgErz

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