Friday, August 25, 2006
First time buyers out of the ball park
The average first-time buyer must now save three quarters of their income to get a foot on the property ladder, new research has claimed. In its first accessibility index the Royal Institution of Chartered Surveyors found a first-time-buyer couple must save 74% of their take-home pay to find the £29,200 needed to meet the upfront costs on a typical home, including the deposit and stamp duty. Anyone surprised?