Challenges for the first-time buyers
FIRST-TIME buyers will make up 25 per cent of prospective buyers next year, which is well short of the 40 per cent level seen precredit crunch.
Rightmove says there is a growing list of challenges for firsttime buyers trying to get on to the property ladder, with three in 10 saying their biggest single concern is finding a suitable property to buy. The property portal says the lack of property is caused by the number of second steppers who cannot afford to move on.
Rightmove’s Miles Shipside says: “That the travails of today’s second-steppers can negatively impact tomorrow’s first-time buyers is a great example of how interconnected the housing market is.”