New­buy­ers are ‘trau­ma­tised’

Yorkshire Post - Property - - PROPERTY -

Where have all the first-time buy­ers gone? Simon Miller of Dews­bury and Wake­field-based es­tate agents Hol­roy­d­miller says: “Over the last 12 months all the ev­i­dence points to the num­ber of first-time buy­ers ac­tive in the mar­ket re­duc­ing by some 30 per cent. Mort­gage avail­abil­ity cou­pled with the on­go­ing re­quire­ment for se­ri­ously large de­posits to ob­tain low re­pay­ment rates are clearly ma­jor con­trib­u­tors.

“An­other more sub­tle fac­tor is that many first-time buy­ers have ef­fec­tively been trau­ma­tised into be­liev­ing that the quest for a mort­gage is im­pos­si­ble.”

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