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First-time Buyer Activity 'at 25-year Low'

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First-time buyer activity 'at 25-year low'

Hilary Osborne

Thursday February 9, 2006

The number of first-time buyers in the UK reached its
lowest level for 25 years
in 2005 as rising house prices meant a continued struggle to afford a home, the Halifax said today.
An estimated 320,000 buyers stepped on to the housing ladder in 2005, the
lowest annual total since 1980
. The number was down 10% on the previous year and 40% lower than in 2002, when 532,000 people became homeowners.
And the lender said 85% of towns in the UK were now unaffordable for first-timers, who need an average of five years' saving to raise a deposit.

HPI: R.I.H. (Rest in hell!)

Oh, yes the article also said:

"The housing market remains well underpinned by a combination of ongoing economic expansion, high employment and historically low interest rates," he said.

Do these numpties read the news I wonder? Record deficit announced today, deteriorating employment and dropping house prices sinking pound and IR going nowhere except up. IR are the HIGHEST in history if you take the P/E ratio (all that matters) into account!

Edited by Realistbear

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  • 337 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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