The 4th annual Scottish Widows Bank graduate first-time buyer survey has shown that only 44% of graduates leaving higher education in the past 10 years have been able to get onto the property ladder and that 72% of this number have needed assistance from a family member, partner or friend to buy the property. But 69% of these are now stuck in these agreements, unable to afford o buy out the other person if they needed to.
With average house prices rising from £69k in October 1997 to £198k today according to the Halifax House Price Index, the chance of buying your first home is becoming bleaker. Analysts have warned that these factors may combine to slow down the rise in property prices.
Lenders have tried to help the situation by making more 100 per cent mortgages available, but this means higher levels of debt and buyers more likely to struggle to pay other bills.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment