First-time buyer crisis unresolved

Worryingly, Rightmove.co.uk has reported that first-time buyers currently make up less than 25 per cent of all potential house buyers in the UK, and this proportion is gradually decreasing in many regions.

It has also been found that the proportion of first-time buyers who are about to enter the housing market has decreased to 22.8 per cent.

According to Rightmove.co.uk, this figure is about half the level normal for a healthy housing market.

45 per cent of first-time buyers admitted that the greatest hindrance to getting a home for them was the difficulty of raising a deposit, and 10 per cent had fears they wouldn’t be able to meet monthly repayments.

Apart from that, 23 per cent said they couldn’t find a property that would suit their individual requirements, and 10 per cent revealed they were discouraged from acquiring their first property by said worries about their current debts and job security.
 


Articles

The cultural transformations that have made people accept life in debt have had a direct impact on the approach youngsters take to money matters, which could lead to negative consequences in the long run as many of the next generation would resort to IVAs to cope with serious financial issues.

When we put efforts into our work and get paid for this, we get an amazing feeling of satisfaction. Our hard hard work seems to have been remunerated financially. We go shopping and buy the items we need and the items we simply want.