Tuesday, April 10, 2007
even fewer FTBs. some choice quotes below.
87% of first-time buyers chose mortgages with a fixed rate in February, but for how long? ----- Ed Stansfield, property economist at Capital Economics, said the fall in numbers of first-time buyers could mean that some of the heat is now coming out of the property market. "First-time buyer numbers have been gently drifting down. They do not have much of a choice - either stretch themselves with larger loans or sit out and wait for easier times. It is very tough at the moment. "This cannot be good for the long-term outlook for the market. It is another argument for expecting the market to get softer as the year goes on. The outlook for 2008 will be pretty soft."