'returners' Boost Housing Market

[Jason]

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

[jp1]

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

[Realistbear]

Returners?

[dnd]

Desperate, desperate market....

[Waiting Patiently]

The spin gets more outlandish and more desperate every day

[Jason]

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

[DTMark]

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

[DoubleBubbleTrouble]

These people are simply not First Time Buyers and to class them so is misleading.

[Converted Lurker]

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.

[Casual Observer]

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

[Jason]

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.

[Casual Observer]

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?

[Fudge]

In other words.

Come you ******* STR's, come and buy something, were fricken desperate!