Tuesday, October 17, 2006
First-time buyers (FTBs) will have to wait longer to get on the ladder
The article just sums up how little thought goes into reports on the property market. Rightmove data would indicate house price inflation (HPI) has returned to double digit growth. The report then states that FTB will have to wait longer to get on the ladder. Spot the mistake? Now to my laymans understanding if the average house price is approaching £200K and seeing 10%+ growth and the average wage is around £25K seeing an increase in-line or slightly above inflation then HPI will continue to outstrip the other massively and the FTB will be extinct and no amount of waiting a little longer by FTBs will make a jot of difference.