Mar­ket concern at lack of first-timers

Yorkshire Post - Property - - PROPERTY -

THIS week’s sum­mit on the plight of first-time buy­ers, which was held by hous­ing min­is­ter Grant Shapps, con­cluded there was no quick fix.

The Coun­cil of Mort­gage Len­ders pointed out that high loan-to-value lend­ing is very cap­i­tal-in­ten­sive.

Mean­while, Right­move First­Time Buyer Re­port finds that the per­cent­age of first-time pur­chasers has dropped to 22.8 of all prospec­tive buy­ers. In a healthy mar­ket the fig­ure would be 40 per cent.

Miles Ship­side, di­rec­tor of Right­move, says: “This a big concern for the prop­erty mar­ket. First time buy­ers per­form a vi­tal func­tion in com­plet­ing chains and aid­ing flu­id­ity on the hous­ing lad­der.”

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