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Around two-thirds of people aged in their 20s and 30s hope to buy a new home in the next five years, according to a survey. Some 66 per cent of people in their 30s and 67 per cent in their 20s are considering buying a property in the next five years, compared to 38 per [...]
New research has revealed the most expensive areas for homebuyers in the UK. The area where your money will get you the least floor space is Kensington & Chelsea, with an average cost of £28,509 per square metre, while another affluent area ranks second, with the average house in Westminster costing just over £1m, with [...]
A new report published this morning shows that first-time buyers now have to cough up five-and-a-half times their typical annual earnings to get on the property ladder. In London that is even nine times. As house prices have surged, the average first-time buyer house price-to-gross earnings ratio in the third quarter of this year was [...]
The property market has boomed over the past year, thanks to the stamp duty holiday which has given a lot of first-time buyers the opportunity to get their foot on the property ladder. Coupled with the introduction of the new government backed 5 per cent deposit scheme, designed to help home buyers, the market is [...]
Nearly half of all first-time buyer housing transactions this year are being financed by the ‘bank of mum and dad’, according to a new property forecast, shared with City A.M. this afternoon. Total contributions from parents helping younger generations to buy a home are expected to reach £9.8bn in 2021, analysis from property group Savills [...]
The impact of the pandemic, both on the property market and on personal finances, has left a gulf between struggling would-be first-time buyers and those already on the ladder. More than four-in-10 first-time buyers delayed plans to buy a home in 2020, with the majority saying raising a deposit is the biggest barrier to homeownership, [...]
First-time buyer annual house price inflation is now at a five-month high, at 9.2 per cent, and has pushed ahead of the equivalent measure for home movers, at 8.1 per cent, according to property experts. In London, the average house prices have shot passed £500k. The average UK house price hit a record high of [...]
Banks and building societies handed out more mortgages to first-time buyers in March than any time since 2002. Across the UK, 42,330 mortgages were issued to first-time buyers in March, marking the highest monthly total since December 2002 when 44,000 were advanced, according to trade association UK Finance. Many people who would have taken their [...]
First-time buyers in England will be able to apply for a discount of up to 50 per cent on a new build home under a government project launched today. The First Homes scheme will help people onto the property ladder, which experts believe could spark a scramble for properties and further bolster the house price [...]
First-time buyers with deposits as low as 10 per cent will be able to borrow five and a half times their income when taking out a longer-term mortgage, the UK’s biggest building society said this morning. Nationwide Building Society said that under its “helping hand” initiative, first-time buyers across the UK will have the option [...]
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