Af­ford­abil­ity still de­ters new buy­ers

Yorkshire Post - Property - - PROPERTY -

The av­er­age price of a first-time buyer home in York­shire is £104,560 and the av­er­age first-time de­posit is £20,000, ac­cord­ing to the Hal­i­fax.

Over half of would-be first­time buy­ers say that af­ford­abil­ity is the main rea­son why they have not stepped on to the prop­erty lad­der.

The num­ber of those who took the plunge in the first half of 2010 is 94,600, half that of the same pe­riod for 2007. But the fig­ure rep­re­sents a 28 per cent rise against last year. Stephen Noakes, com­mer­cial di­rec­tor for mort­gages, said af­ford­abil­ity had im­proved and eight out of 10 first time buyer mort­gages were ap­proved.

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