Thursday, January 1, 2009
Good news – for us!
Amid the general gloom, it is good to be able to report that one hitherto hard-pressed group of people can be optimistic going into the New Year. A Halifax survey shows that first-time buyers will find homes more affordable than they have been for five years, with a particular improvement over the past 18 months. If – as expected – prices continue to fall, homes should become more affordable still. The knock-on effects will be beneficial, bringing more mobility to the market, allowing existing home-owners to move to a bigger home and reducing the pressure on parents to stump up deposits for their first-time buyer children. We wish all our readers a Happy New Year.