Brokers warn government against guaranteeing one per cent deposit mortgages January 21, 2024 Brokers have warned that the government could push up house prices even further if it guarantees mortgages for first-time buyers with deposits of just one per cent.
Explosion in ‘London leavers’ buying up properties in the countryside with St Albans top destination for first-time buyers December 31, 2021 More properties outside the city were purchased by London-based home buyers this year than in any year since 2007. First-time buyers made up nearly a quarter (24 of Londoners buying outside the capital in 2021, according to the calculations from Hamptons. The estate agent estimates that, in total, buyers based in London purchased more than [...]
Labour promises to grant first-time buyers exclusive rights to new-builds September 24, 2021 Labour has promised to give first-time buyers “first dibs” on new-builds for six months. The party said it would prevent properties being sold off-plan to developers before locals can buy them, under plans to be set out at its annual conference. It will also state a government led by Keir Starmer would cap the amount [...]
First time buyers ‘still getting raw deal’ with £449k average price for London home December 2, 2021 First time buyers paid an average price of £449,000 for a London home, fresh statistics outlined today. Third quarter average prices were down from £478,000 in the second quarter as the market cooled off from pandemic highs, according to the Office for National Statistics. The average advance in the last quarter was £309,339 while the [...]
First-time buyer hell: The London areas where you pay more than £20k per square meter January 31, 2022 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 [...]
First time buyers face significant barriers as earnings lag behind soaring house price growth November 25, 2021 First time buyers are facing significant hurdles to raising a deposit as they come up against high prices relative to average earnings. House price growth has surpassed earnings growth over the past year and the ratio of house prices to earrings has hit a record high, the Nationwide House Price Index set out. A 20 [...]
First-time buyers in London now need to stump up nine times their annual earnings to get on property ladder November 25, 2021 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 [...]
First-time buyers: Where do millennials stand on the property ladder? July 21, 2021 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 [...]
Bank of mum and dad finances half of all first-time buyer purchases as parents spend $10bn October 22, 2021 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 [...]
First-time buyer price inflation nears 10 per cent as London house prices shoot past £500k November 6, 2021 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 [...]