Jason Posted June 19, 2006 Share Posted June 19, 2006 (edited) http://news.bbc.co.uk/1/hi/business/5095186.stm The UK housing market is being buoyed by a new breed of first-time buyer, Nationwide Building Society has said. These "returners" are older people who may be moving back into the market after time spent renting, perhaps following a relationship breakdown. These people have bigger deposits and incomes and are more able to take on substantial mortgages to get onto the property ladder. Nationwide estimated returners account for one in five first-time buyers. The proportion of younger people, in the 20-24 age bracket, able to get onto the property ladder has fallen dramatically over the past decade. In 1994, 34% of people aged 20-24 were homeowners. A decade later the figure had fallen to 20%. So, 20% of current home owners are younger than 24? Yeah right! So why is the average FTB age 34, and has been in the thirties for several years. Spin spin spinning away. Edited June 19, 2006 by Jason Quote Link to comment Share on other sites More sharing options...
jp1 Posted June 19, 2006 Share Posted June 19, 2006 http://news.bbc.co.uk/1/hi/business/5095186.stm The UK housing market is being buoyed by a new breed of first-time buyer, Nationwide Building Society has said. These "returners" are older people who may be moving back into the market after time spent renting, perhaps following a relationship breakdown. These people have bigger deposits and incomes and are more able to take on substantial mortgages to get onto the property ladder. Nationwide estimated returners account for one in five first-time buyers. The proportion of younger people, in the 20-24 age bracket, able to get onto the property ladder has fallen dramatically over the past decade. In 1994, 34% of people aged 20-24 were homeowners. A decade later the figure had fallen to 20%. So, 20% of current home owners are younger than 24? Yeah right! So why is the average FTB age 34, and has been in the thirties for several years. Spin spin spinning away. So the true figure for FTBers is even less! - now that they are admitting that the already low FTB stats include homeowners who've had a 'holiday' from the market - probably B-Boomers returning from MEW fuelled gap years Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 19, 2006 Share Posted June 19, 2006 Returners? Quote Link to comment Share on other sites More sharing options...
dnd Posted June 19, 2006 Share Posted June 19, 2006 Desperate, desperate market.... Quote Link to comment Share on other sites More sharing options...
Waiting Patiently Posted June 19, 2006 Share Posted June 19, 2006 The spin gets more outlandish and more desperate every day Quote Link to comment Share on other sites More sharing options...
Jason Posted June 19, 2006 Author Share Posted June 19, 2006 (edited) Here's their report. i aint got much time at the mo, but who wants to prove them wrong about % of homeowners under 24? FirsttimebuyeraffordabilityJune06.doc FirsttimebuyeraffordabilityJune06.doc Edited June 19, 2006 by Jason Quote Link to comment Share on other sites More sharing options...
DTMark Posted June 19, 2006 Share Posted June 19, 2006 (edited) The UK housing market is being buoyed by a new breed of first-time buyer, Nationwide Building Society has said. These "returners" are older people who may be moving back into the market after time spent renting, perhaps following a relationship breakdown. That's something new, then - it isn't as if those people ever existed before, is it... Nationwide estimated returners account for one in five first-time buyers. That's a fair amount of relationship breakdowns, then. Or perhaps it simply says more about the overall number of first time buyers. Desperate, desperate market.... Indeed. What with the "5% chance of a HPC" and the endless "mini boom" articles month after month, it's like 1992 all over again. Edited June 19, 2006 by DTMark Quote Link to comment Share on other sites More sharing options...
DoubleBubbleTrouble Posted June 19, 2006 Share Posted June 19, 2006 These people are simply not First Time Buyers and to class them so is misleading. Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted June 19, 2006 Share Posted June 19, 2006 Here's their report. i aint got much time at the mo, but who wants to prove them wrong about % of homeowners under 24? This bit confuses me; ftbs still account for 40% of transactions, but less than 10% can afford to overcome multiple earnings constraints? Huh? I'm not saying the impressive graphs and narrative aren't worth looking at, but I`m becoming increasingly disappointed with 'nothing much to add flashy surveys' that shoot themsleves in the foot in paragraph one. Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted June 19, 2006 Share Posted June 19, 2006 (edited) So, 20% of current home owners are younger than 24? Yeah right! So why is the average FTB age 34, and has been in the thirties for several years. Spin spin spinning away. Err, whatt exactly is it saying? I thought you said that 20% of 20-24 year olds were homebuyers, not that 20% of homeowners were 20-24 Edited June 19, 2006 by Casual Observer Quote Link to comment Share on other sites More sharing options...
Jason Posted June 19, 2006 Author Share Posted June 19, 2006 Err, whatt exactly is it saying? I thought you said that 20% of 20-24 year olds were homebuyers, not that 20% of homeowners were 20-24 From the report " Only about 20% of homeowners are in the 20-24 age group, compared to around 30% ten years ago". How do you read that? It's not very clear in the report. They must mean only 20% of those aged 20-24 can afford a home for the first time. Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted June 19, 2006 Share Posted June 19, 2006 From the report " Only about 20% of homeowners are in the 20-24 age group, compared to around 30% ten years ago". How do you read that? But your statement read it both ways! In 1994, 34% of people aged 20-24 were homeowners. A decade later the figure had fallen to 20%. So, 20% of current home owners are younger than 24? Quote Link to comment Share on other sites More sharing options...
Fudge Posted June 19, 2006 Share Posted June 19, 2006 In other words. Come you ******* STR's, come and buy something, were fricken desperate! Quote Link to comment Share on other sites More sharing options...
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