Monday, Dec 04, 2006

Affordability crisis for FTBs

This Is Money: Towns where families can't buy

Half of all potential first-time buyers have been priced out of the property market by the housing boom, research revealed yesterday.

Experts have identified 78 'crisis areas' where those under 40 cannot afford even the most modest starter home. They include North Cornwall, Norfolk and Rydale. Many of the worst affected areas are in rural or seaside locations, where the trend for wealthy families to purchase holiday homes has driven up prices and made property unaffordable for local people.

Posted by little professor @ 10:31 AM (425 views)
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